Guideline Value for Vigneshwara Nagar

Vigneshwara Nagar guideline value

The current guideline value of Vigneshwara Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This locality is situated in Atanancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Vigneshwara Nagar has changed

The guideline value for Vigneshwara Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 175 per sq.ft, which rose significantly to Rs 600 per sq.ft in the 2012 revision. The 2017 revision saw a further increase to Rs 402 per sq.ft, followed by a substantial jump to Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2024, the overall increase in the guideline value is 243%. Notably, the change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The consistent value of Rs 600 per sq.ft in the latest two revisions reflects stability in the guideline value for this locality.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Vigneshwara Nagar's 2024 figure below this median.

• Vimal Nagar: Rs 600 per sq.ft (2024)
• V.S.Nagar Part -II: Rs 1,500 per sq.ft (2024)
• Walajabad Road: Rs 2,500 per sq.ft (2024)
• Winneer Form: Rs 800 per sq.ft (2024)
• Vedhadri Maharishi Nagar: Rs 600 per sq.ft (2024)
• Vasantha Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwara Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vigneshwara Nagar?

The Sub Registrar Office that covers Vigneshwara Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Atanancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the associated costs, such as stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar?

The current guideline value of Vigneshwara Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 600 per sq.ft in both 2023 and 2024. The value was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing fluctuations over the years.

What are the guideline values for other streets in Atanancheri?

Other streets in Atanancheri have varying guideline values. For instance, V.S.Nagar Part -II is at Rs 1,500 per sq.ft, while Walajabad Road is at Rs 2,500 per sq.ft in 2024.

How is stamp duty calculated for properties in Vigneshwara Nagar?

Stamp duty for properties in Vigneshwara Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000.

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

The Sub Registrar Office covering Vigneshwara Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.