Guideline Value for Vignesh Nagar

Vignesh Nagar guideline value

The current guideline value of Vignesh Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024. This area falls under 1. Nolambur village and is classified as Residential Special Type - I, with the registration managed by the Villivakkam SRO.

How the guideline value of Vignesh Nagar has changed

The guideline value for Vignesh Nagar has seen significant changes over the years. In 2017, the value was Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 63%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The 2024 revision represents a notable increase of 49% from the 2017 revision to 2023, indicating a steady rise in the guideline value over the years.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, which is the same as the guideline value for Vignesh Nagar.

• Vignesh Nagar Phase I & II: Rs 7,100 per sq.ft (2024)
• V.G.N.Zodiac Ville: Rs 7,100 per sq.ft (2024)
• V.G.N Nagar Phase I,II,III: Rs 7,100 per sq.ft (2024)
• V.G.N Nagar Phase I: Rs 7,100 per sq.ft (2024)
• V.G.N. Monte Carlo: Rs 7,100 per sq.ft (2024)
• V.G.N Minaurva: Rs 7,100 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 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total cost for these fees Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, 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 Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role in the registration process when buying or selling property in 1. Nolambur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a buyer or seller registers a property, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the sale price. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vignesh Nagar?

The current guideline value of Vignesh Nagar is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value increased over the years?

From the 2017 revision to the 2024 revision, the guideline value has increased by 63%. The increase from 2023 to 2024 is 9%, and from 2017 to 2023, it was 49%.

What is the land classification for Vignesh Nagar?

Vignesh Nagar is classified as Residential Special Type - I, which indicates its zoning for residential purposes.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 6,39,000.