Guideline Value for Vigneshpuram

Vigneshpuram guideline value

The current guideline value of Vigneshpuram, located in Chitlapakkam village under the Tambaram Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Vigneshpuram has changed

The guideline value for Vigneshpuram has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased the value to Rs 670 per sq.ft, reflecting a drop of 33%. However, by 2023, the guideline value increased significantly to Rs 1,000 per sq.ft, and in the latest 2024 revision, it rose further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Vigneshpuram's 2024 figure is below this median.

• Vinayagar Koil Cross St: Rs 1,100 per sq.ft (2024)
• Vinayagar St: Rs 1,650 per sq.ft (2024)
• Vethandam Colony 3rd Street: Rs 2,750 per sq.ft (2024)
• Vethanda Colony Muthal Cross Street: Rs 2,750 per sq.ft (2024)
• Vethadam colony 2nd street: Rs 2,750 per sq.ft (2024)
• Viswamithran Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshpuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that 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 Vigneshpuram?

The Sub Registrar Office that covers Vigneshpuram is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more assistance.

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

The guideline value plays a crucial role in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is often compared with the sale price to determine the applicable duties. The higher of the two values is used to calculate the stamp duty, ensuring that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vigneshpuram?

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

How has the guideline value of Vigneshpuram changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Vigneshpuram?

Vigneshpuram is classified as Residential Class II Type - II.

What are the stamp duty rates for properties in Vigneshpuram?

The stamp duty for properties in Vigneshpuram is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vigneshpuram located?

The Sub Registrar Office for Vigneshpuram is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.