Guideline Value for Vigneshwara Nagar Annex

Vigneshwara Nagar Annex guideline value

The current guideline value of Vigneshwara Nagar Annex is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Arumanthi village, under the Redhills Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Vigneshwara Nagar Annex has changed

The guideline value for Vigneshwara Nagar Annex has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 16 per sq.ft. It increased to Rs 100 per sq.ft in 2007, then to Rs 200 per sq.ft in 2012. However, it decreased by 33% to Rs 134 per sq.ft in 2017. The value rose again to Rs 200 per sq.ft in 2023, and currently stands at Rs 220 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1275%. Notably, there is no figure available for Vigneshwara Nagar Annex in the 2002 revision.

Guideline values in Arumanthi

In Arumanthi, there are 16 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 165 to Rs 1,100 per sq.ft, with a median value of Rs 275 per sq.ft. Vigneshwara Nagar Annex's current guideline value is below this median.

• Sundarraj Avenue: Rs 330 per sq.ft (2024)
• Sri Vadivambigai Ring Road Garden: Rs 220 per sq.ft (2024)
• Sri Sankara Bala Subramaniya 400' Highway City: Rs 220 per sq.ft (2024)
• Sri Sai Sakthi Avenue: Rs 220 per sq.ft (2024)
• Sri Ram Nagar: Rs 165 per sq.ft (2024)
• Sri Krishna Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwara Nagar Annex

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 to Rs 19,800. 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 information.

Which Sub Registrar Office covers Vigneshwara Nagar Annex?

The Vigneshwara Nagar Annex falls under the jurisdiction of 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Arumanthi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property in the area.

When a property is sold or purchased, the guideline value is used to calculate the necessary fees, ensuring that the transaction is recorded accurately. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar Annex?

The current guideline value of Vigneshwara Nagar Annex 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 significantly from Rs 16 per sq.ft in 2003 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 1275% over the years.

What is the land classification of Vigneshwara Nagar Annex?

The land classification for Vigneshwara Nagar Annex is Residential Class II Type - I.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in Vigneshwara Nagar Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 at 7%.