Guideline Value for Vigneshwara Nagar (All Streets )

Vigneshwara Nagar (All Streets ) guideline value

The current guideline value of Vigneshwara Nagar (All Streets) is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - II.

How the guideline value of Vigneshwara Nagar (All Streets ) has changed

The guideline value for Vigneshwara Nagar has seen significant increases over the years. In 2002, the value was Rs 127 per sq.ft, which rose to Rs 144 per sq.ft in 2003, marking a 13% increase. The value continued to rise, reaching Rs 260 per sq.ft in 2007, a substantial increase of 81%. By 2017, the guideline value had jumped to Rs 1,072 per sq.ft, reflecting a remarkable 312% increase from the previous revision.

In 2023, the value was Rs 1,600 per sq.ft, and it increased by 10% to the current rate of Rs 1,760 per sq.ft in 2024. The 2012 revision does not have a figure for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,286%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Vigneshwara Nagar's current value below the median.

• Vijiya Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Vijiya Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Vishwespuram extn: Rs 1,870 per sq.ft (2024)
• Venkateswaran Street /Kamarajar Nagar: Rs 1,980 per sq.ft (2024)
• Visvesvapuram: Rs 1,870 per sq.ft (2024)
• Vivekanadar Street / VOC Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwara Nagar (All Streets )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total fees together Rs 1,58,400. 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 information.

Which Sub Registrar Office covers Vigneshwara Nagar (All Streets )?

The Sub Registrar Office that covers Vigneshwara Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Pammal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

It is important to note that the guideline value is updated periodically, and buyers should always check the latest figures before proceeding with any transactions. This ensures compliance with local regulations and accurate financial planning for property purchases.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar?

The current guideline value of Vigneshwara Nagar (All Streets) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has significantly increased from Rs 127 per sq.ft in 2002 to Rs 1,760 per sq.ft in 2024, representing an overall increase of 1,286% over this period.

What is the land classification for Vigneshwara Nagar?

Vigneshwara Nagar is classified as Residential Class III Type - II, indicating its designation for residential use within the Pammal area.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 17,60,000. The stamp duty at 7% is Rs 1,23,200, and the registration fee at 2% is Rs 35,200, totaling Rs 1,58,400.

Where is the Sub Registrar Office for Vigneshwara Nagar located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone.