Guideline Value for Vigneshwara Nagar

Vigneshwara Nagar guideline value

The current guideline value of Vigneshwara Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Nemilicherry village under the Pallavaram SRO, classified as Residential Class I Type - III.

How the guideline value of Vigneshwara Nagar has changed

The guideline value for Vigneshwara Nagar has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 2,200 per sq.ft in 2012. However, it dropped to Rs 1,474 per sq.ft in 2017. The subsequent revision in 2023 raised it to Rs 2,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 36%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has risen by 633% from 2007 to 2024.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 2,160 per sq.ft, placing Vigneshwara Nagar's 2024 figure above this median.

• Visweswaran Back Street: Rs 2,160 per sq.ft (2024)
• V.O.C. Street: Rs 2,200 per sq.ft (2024)
• Vempuliamman Nagar: Rs 2,200 per sq.ft (2024)
• Yamuna Street: Rs 2,160 per sq.ft (2024)
• Veerasidhi Vinayaga Koil Street: Rs 2,420 per sq.ft (2024)
• Vanchinathan Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneshwara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 information.

Which Sub Registrar Office covers Vigneshwara Nagar?

The Sub Registrar Office covering Vigneshwara Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Nemilicherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are accurately assessed based on the property's value.

When buying or selling property, the guideline value helps determine the legal value of the property for registration purposes. Buyers and sellers must be aware of this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar?

The current guideline value of Vigneshwara Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2012, then decreased to Rs 1,474 per sq.ft in 2017, increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in 2024.

What is the median guideline value in Nemilicherry?

The median guideline value in Nemilicherry for 2024 is Rs 2,160 per sq.ft, with Vigneshwara Nagar's value above this median.

What are the stamp duty rates in Vigneshwara Nagar?

The stamp duty rate in Vigneshwara Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vigneshwara Nagar located?

The Sub Registrar Office for Vigneshwara Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.