Guideline Value for Vigneshwara Nagar (ward 7)

Vigneshwara Nagar (ward 7) guideline value

The current guideline value of Vigneshwara Nagar (ward 7) 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 7) has changed

The guideline value for Vigneshwara Nagar (ward 7) has seen significant changes over the years. In the 2017 revision, the value was Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision set the value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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 7) below this median.

• Vigneshwara Nagar (ward 6): 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 7)

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, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vigneshwara Nagar (ward 7)?

The Sub Registrar Office that covers Vigneshwara Nagar (ward 7) 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 is a critical factor in the registration process when buying or selling property in Kerugambakkam. It helps determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for calculating the applicable fees. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar (ward 7)?

The current guideline value of Vigneshwara Nagar (ward 7) 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 increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over these years.

What is the land classification for Vigneshwara Nagar (ward 7)?

The land classification for Vigneshwara Nagar (ward 7) is Residential Class II Type - II.

What is the registration office for Vigneshwara Nagar (ward 7)?

The registration office for Vigneshwara Nagar (ward 7) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in Vigneshwara Nagar (ward 7)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 19,80,000 incurs a stamp duty of Rs 1,38,600 at 7%.