Guideline Value

Corporate

Guideline Value for Vigneshwara Nagar Phase-I

₹2750/sq.ft.

The guideline value for Vigneshwara Nagar Phase-i in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vigneshwara Nagar Phase-i

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Vigneshwara Nagar Phase-I guideline value

The current guideline value of Vigneshwara Nagar Phase-I is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Vigneshwara Nagar Phase-I has changed

The guideline value for Vigneshwara Nagar Phase-I has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 raised the value further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, there has been a significant increase of 64% in the guideline value.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, highlighting the changes in the property valuation over these years.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Vigneshwara Nagar Phase-I above the median value for the area.

Stamp duty and registration fee for property in Vigneshwara Nagar Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vigneshwara Nagar Phase-I?

The Sub Registrar Office that covers Vigneshwara Nagar Phase-I is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Medavakkam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the official valuation of the property.

When registering a property, the guideline value is used to determine the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar Phase-I?

The current guideline value of Vigneshwara Nagar Phase-I is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Vigneshwara Nagar Phase-I?

The land classification for Vigneshwara Nagar Phase-I is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for Vigneshwara Nagar Phase-I?

The Sub Registrar Office for Vigneshwara Nagar Phase-I is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Vigneshwara Nagar Phase-I?

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 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.