Guideline Value for Vigneshwara Nagar VOC Street

Vigneshwara Nagar VOC Street guideline value

The current guideline value of Vigneshwara Nagar VOC 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 SRO, classified as Residential Special Type - I.

How the guideline value of Vigneshwara Nagar VOC Street has changed

The guideline value for Vigneshwara Nagar VOC Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. However, the value saw a significant increase in the subsequent revisions, with the 2023 revision marking it at Rs 3,600 per sq.ft, followed by the current 2024 revision which raised it to Rs 3,960 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and the overall change from 2012 to 2024 reflects a 10% increase. The most recent change from 2023 to 2024 represents a 10% rise in the guideline value per sq.ft.

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 is Rs 3,960 per sq.ft, which is equal to the current guideline value of Vigneshwara Nagar VOC Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees together to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vigneshwara Nagar VOC Street?

The Vigneshwara Nagar VOC 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Porur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of Vigneshwara Nagar VOC 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 seen several changes, with the most recent increase from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024. The value also decreased from Rs 3,600 in 2012 to Rs 2,412 in 2017 before increasing again.

What is the land classification for Vigneshwara Nagar VOC Street?

Vigneshwara Nagar VOC Street is classified as Residential Special Type - I under the guideline value register.

Where can I find the Sub Registrar Office for Vigneshwara Nagar VOC Street?

The Kunrathur Sub Registrar Office covers Vigneshwara Nagar VOC Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Vigneshwara Nagar VOC Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,77,200.