Guideline Value for Vignesh Nagar

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar, located in Malaipattu village, is Rs 200 per sq.ft. This value is effective from the 2024 revision and is classified under Residential Class I Type - I. The relevant Sub Registrar Office for this area is Sunguvarchattram SRO.

How the guideline value of Vignesh Nagar has changed

The guideline value for Vignesh Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 200 per sq.ft. In 2017, this value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this value at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Vignesh Nagar. Overall, comparing the guideline values from 2012 to 2024, there has been no net change, as the value remains at Rs 200 per sq.ft.

Guideline values in Malaipattu

Malaipattu village has a total of 36 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 1,181 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which aligns with the current value of Vignesh Nagar.

• V.O.C Street: Rs 150 per sq.ft (2024)
• Thriuveethiamman Street: Rs 150 per sq.ft (2024)
• Thirumallai Nayakar Street: Rs 150 per sq.ft (2024)
• Thambaram-Sriperumbudur Salai(Pazhavathamman kovil to Bustop): Rs 441 per sq.ft (2024)
• Teachers Chennai Fair Land: Rs 300 per sq.ft (2024)
• Sri Saravana Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vignesh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vignesh Nagar?

The Sub Registrar Office that covers Vignesh Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Malaipattu

The guideline value is a crucial factor when registering property transactions in Malaipattu. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024. There are no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification for Vignesh Nagar?

Vignesh Nagar is classified under Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vignesh Nagar?

The Sub Registrar Office for Vignesh Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vignesh Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 2,00,000, the stamp duty at 7% would amount to Rs 14,000.