Guideline Value for Vigneshwara Nagar (ward 6)

Vigneshwara Nagar (ward 6) guideline value

The current guideline value of Vigneshwara Nagar (ward 6) is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village and falls under the Pammal SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Vigneshwara Nagar (ward 6) has changed

The guideline value for Vigneshwara Nagar (ward 6) has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no recorded figures for this street in the revisions of 2002, 2003, 2007, and 2012. The significant changes between the revisions include a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vigneshwara Nagar (ward 6) below this median.

• Vigneshwara Nagar (ward 7): Rs 1,980 per sq.ft (2024)
• Vignesh Nagar: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 1,840 per sq.ft (2024)
• V.G.N Pratish Avenue: Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 8): Rs 2,860 per sq.ft (2024)
• V.G.N Nagar (ward 4): Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwara Nagar (ward 6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vigneshwara Nagar (ward 6)?

The Sub Registrar Office that covers Vigneshwara Nagar (ward 6) 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 information.

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

The guideline value serves as a benchmark for property transactions in Kerugambakkam, ensuring that the sale price is aligned with the official valuation set by the Registration Department. This value is crucial during the registration process, as it determines the applicable stamp duty and registration fees.

When buying or selling property, it is important to be aware that the guideline value may influence negotiations and the final sale price. Buyers should ensure that they are informed about the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar (ward 6)?

The current guideline value of Vigneshwara Nagar (ward 6) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking a 64% increase overall.

What are the other streets with similar guideline values in Kerugambakkam?

Other streets in Kerugambakkam with a guideline value of Rs 1,980 per sq.ft include Vigneshwara Nagar (ward 7) and Vignesh Nagar. Other nearby streets have varying values.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,78,200.

Where can I find my Sub Registrar Office?

The Sub Registrar Office for Vigneshwara Nagar (ward 6) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information using the provided link.