Guideline Value for Vigneshwara Nagar Vaigai Street

Vigneshwara Nagar Vaigai Street guideline value

The current guideline value of Vigneshwara Nagar Vaigai Street is Rs 3,960 per sq.ft. This street is located in Porur village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vigneshwara Nagar Vaigai Street has changed

The guideline value for Vigneshwara Nagar Vaigai Street has seen several revisions over the years. In the 2012 revision, the value was Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 3,600 per sq.ft, followed by the current value of Rs 3,960 per sq.ft effective from 1 July 2024. The changes between these revisions include a decrease of 33% from 2012 to 2017, an increase of 49% from 2017 to 2023, and a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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

• Vigneshwara Nagar Seethakathi Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Vallal Pari Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar VOC 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 Vaigai 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vigneshwara Nagar Vaigai Street?

The Vigneshwara Nagar Vaigai 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 an essential factor when registering property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is crucial for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

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

The current guideline value of Vigneshwara Nagar Vaigai 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 2012 to Rs 2,412 per sq.ft in 2017, then back to Rs 3,600 per sq.ft in 2023, and currently stands at Rs 3,960 per sq.ft as of the 2024 revision.

What are the stamp duty and registration fees for properties 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 Vaigai Street?

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

What is the land classification for Vigneshwara Nagar Vaigai Street?

The land classification for Vigneshwara Nagar Vaigai Street is Residential Special Type - I.