Guideline Value for Vigneshwara Nagar Seethakathi Street

Vigneshwara Nagar Seethakathi Street guideline value

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

How the guideline value of Vigneshwara Nagar Seethakathi Street has changed

The guideline value for Vigneshwara Nagar Seethakathi Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,960 per sq.ft, which is a 10% increase from the 2023 figure of Rs 3,600 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 2,412 per sq.ft, reflecting a significant increase of 49% from the previous 2023 value. The 2012 revision also recorded Rs 3,600 per sq.ft, which was a decrease of 33% from the 2017 value.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%, with the current figure aligning with the median value of Rs 3,960 per sq.ft for other streets in Porur under the Kunrathur SRO.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The guideline value for Vigneshwara Nagar Seethakathi Street is equal to the median value of Rs 3,960 per sq.ft. Below are other streets in Porur with their respective guideline values:

• Vigneshwara Nagar Vaigai Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Pandian Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Vallal Pari Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Pallavan Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar VOC Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Kattabomman Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwara Nagar Seethakathi 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 fees 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vigneshwara Nagar Seethakathi Street?

The Sub Registrar Office that covers Vigneshwara Nagar Seethakathi Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor in the property registration process in Porur. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This value helps in establishing a baseline for the financial obligations of both buyers and sellers.

Frequently asked questions

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

The current guideline value of Vigneshwara Nagar Seethakathi 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 2,412 per sq.ft in 2017 to Rs 3,600 in 2023, and then to Rs 3,960 in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What are the stamp duty and registration fees for property in this area?

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 Sub Registrar Office is responsible for Vigneshwara Nagar Seethakathi Street?

The Kunrathur Sub Registrar Office is responsible for Vigneshwara Nagar Seethakathi Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Vigneshwara Nagar Seethakathi Street?

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