Guideline Value for Vigneshwara Nagar Ganga kaveri 1st Cross Street

Vigneshwara Nagar Ganga kaveri 1st Cross Street guideline value

The current guideline value of Vigneshwara Nagar Ganga Kaveri 1st Cross Street is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Vigneshwara Nagar Ganga kaveri 1st Cross Street has changed

The guideline value for Vigneshwara Nagar Ganga Kaveri 1st Cross Street has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 3,600 per sq.ft. This was followed by a drop to Rs 2,412 per sq.ft in the 2017 revision, marking a decrease of 33%. In the 2023 revision, the value increased to Rs 3,600 per sq.ft, and the latest revision in 2024 shows a further increase to Rs 3,960 per sq.ft, which is a rise of 10% from the previous year.

Between the 2017 and 2023 revisions, there was a significant 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 have a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value for these streets is Rs 3,960 per sq.ft, which matches the current value for Vigneshwara Nagar Ganga Kaveri 1st Cross Street.

• Vigneshwara Nagar Cholan Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Ganga Kaveri 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Bharathiyar 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 Ganga kaveri 1st Cross 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, charged 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. Duty is charged on the higher of the guideline value and the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vigneshwara Nagar Ganga kaveri 1st Cross Street?

The Vigneshwara Nagar Ganga Kaveri 1st Cross Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value is referenced to ensure that the transaction is recorded at a value that reflects the current market standards, thus safeguarding the interests of both the buyer and seller.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar Ganga kaveri 1st Cross Street?

The current guideline value of Vigneshwara Nagar Ganga Kaveri 1st Cross 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 from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, an increase of 10%. It was Rs 2,412 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for this street?

The land classification for Vigneshwara Nagar Ganga Kaveri 1st Cross Street is Residential Special Type - I.

Where can I find the registration office for this area?

The registration office for Vigneshwara Nagar Ganga Kaveri 1st Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 39,60,000 would incur a stamp duty of Rs 2,77,200 at 7%.