Guideline Value for Vigneshwar Nagar

Vigneshwar Nagar guideline value

The current guideline value of Vigneshwar Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Perungavur village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vigneshwar Nagar has changed

The guideline value for Vigneshwar Nagar has seen several revisions over the years. Starting from Rs 11 per sq.ft in 2003, it increased significantly to Rs 100 per sq.ft in 2007. The value then rose to Rs 200 per sq.ft in 2012, but experienced a decrease to Rs 134 per sq.ft in 2017. The 2023 revision brought it back up to Rs 200 per sq.ft, and the latest revision in 2024 has set the value at Rs 220 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1900%. The register has no figure for this street in 2002.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 275 per sq.ft. The guideline value of Vigneshwar Nagar is below this median.

• V.M.K. Nagar: Rs 220 per sq.ft (2024)
• Velavan Nagar: Rs 385 per sq.ft (2024)
• Velan Nagar Annex I: Rs 220 per sq.ft (2024)
• Velan Nagar Annex: Rs 220 per sq.ft (2024)
• Velan Nagar: Rs 220 per sq.ft (2024)
• Vekkali Amman Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total fees to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vigneshwar Nagar?

The Sub Registrar Office that covers Vigneshwar Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perungavur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vigneshwar Nagar?

The current guideline value of Vigneshwar Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11 per sq.ft in 2003 to Rs 220 per sq.ft in 2024, with various increases and a decrease in between. The most recent increase was 10% from 2023 to 2024.

What are the stamp duty and registration fees for property in Vigneshwar Nagar?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400, and the registration fee would be Rs 4,400, totaling Rs 19,800. These fees are based on the guideline value.

Which office handles property registrations in Vigneshwar Nagar?

The Redhills Sub Registrar Office handles property registrations for Vigneshwar Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that all parties are aware of their financial obligations when buying or selling property in Perungavur.