Guideline Value for Vignesh Nagar

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vignesh Nagar has changed

The guideline value for Vignesh Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 1,870 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,870 per sq.ft, which is the same as the current value for Vignesh Nagar.

• Vinayaga Nagar: Rs 1,870 per sq.ft (2024)
• Visalakshi Nagar: Rs 1,870 per sq.ft (2024)
• V.M.S. Nagar: Rs 1,430 per sq.ft (2024)
• Walajah Street: Rs 1,870 per sq.ft (2024)
• Velleeswarar Koil Street: Rs 1,870 per sq.ft (2024)
• Vasanthapuri Phase I: Rs 2,090 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, the calculation is as follows: the guideline value is Rs 18,70,000; the stamp duty at 7% amounts to Rs 1,30,900; and the registration fee at 2% is Rs 37,400, totaling Rs 1,68,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vignesh Nagar?

The Sub Registrar Office that covers Vignesh Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is an essential factor during the registration of properties in Mangadu -A. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the registration department.

When buying or selling property, the guideline value helps to determine the minimum price at which the property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration office for Vignesh Nagar?

The registration office that covers Vignesh Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty rates for property in Vignesh Nagar?

The stamp duty for property in Vignesh Nagar is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property by using the stamp duty and registration fee calculator, which will provide you with the necessary calculations based on the guideline value.