Guideline Value for Vignesh Nagar

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar, located in Serapanancheri village under the Padappai SRO, is Rs 720 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Vignesh Nagar has changed

Over the years, the guideline value of Vignesh Nagar has seen several revisions. The 2012 revision set the value at Rs 650 per sq.ft, which was then reduced to Rs 435 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 650 per sq.ft, and the most recent 2024 revision further raised it to Rs 720 per sq.ft, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that have a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median value for these streets is Rs 720 per sq.ft, making Vignesh Nagar's 2024 figure equal to this median.

• Vetri Vinayagar Avenue: Rs 720 per sq.ft (2024)
• Vetri Nagar: Rs 720 per sq.ft (2024)
• Vinneesa Nagar: Rs 720 per sq.ft (2024)
• Venkatajalapathi Nagar: Rs 720 per sq.ft (2024)
• Walajabad Main Road: Rs 990 per sq.ft (2024)
• Zion Nagar: Rs 720 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 720 per sq.ft, the total guideline value would be Rs 7,20,000. The stamp duty at 7% would amount to Rs 50,400, and the registration fee at 2% would be Rs 14,400, making the total cost for these fees Rs 64,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction process.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. This helps maintain transparency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 720 per sq.ft in 2024, showing an overall increase of 11% since 2012.

What is the land classification of Vignesh Nagar?

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

Where can I find the registration office for Vignesh Nagar?

The registration office for Vignesh Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Vignesh Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 720 per sq.ft incurs a stamp duty of Rs 50,400.