Guideline Value for Vigneshwara Nagar Cholan Street

Vigneshwara Nagar Cholan Street guideline value

The current guideline value of Vigneshwara Nagar Cholan Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Vigneshwara Nagar Cholan Street has changed

The guideline value for Vigneshwara Nagar Cholan Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in the 2017 revision. Following this, the 2023 revision saw a significant increase to Rs 3,600 per sq.ft, and most recently, the 2024 revision has set the value at Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the current guideline value of Vigneshwara Nagar Cholan Street.

• Vigneshwara Nagar Bharathiyar Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Ganga kaveri 1st Cross Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Ganga Kaveri 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Ganga Kaveri Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Kattabomman Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Pallavan Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwara Nagar Cholan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important 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 Cholan Street?

The Vigneshwara Nagar Cholan Street falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the actual sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar Cholan Street?

The current guideline value of Vigneshwara Nagar Cholan Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the 2012 revision at Rs 3,600 per sq.ft, decreasing to Rs 2,412 per sq.ft in 2017, then increasing to Rs 3,600 per sq.ft in 2023, and finally reaching Rs 3,960 per sq.ft in 2024.

What is the land classification of Vigneshwara Nagar Cholan Street?

Vigneshwara Nagar Cholan Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Which office handles registrations for Vigneshwara Nagar Cholan Street?

The Kunrathur Sub Registrar Office handles registrations for Vigneshwara Nagar Cholan Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.