Guideline Value for Vigneshwara Nagar

Vigneshwara Nagar guideline value

The current guideline value of Vigneshwara Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This locality is part of Tharapakkam village under the Pammal SRO and is classified as Residential Class I Type - I.

How the guideline value of Vigneshwara Nagar has changed

The guideline value for Vigneshwara Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year and a significant 64% increase from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The change from 2017 to 2023 was 49%, indicating a substantial rise in the guideline value over these years.

Guideline values in Tharapakkam

In Tharapakkam, there are 47 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Vigneshwara Nagar.

• Vigneshwara Nagar Annexe: Rs 1,100 per sq.ft (2024)
• Vignesh Nagar: Rs 1,100 per sq.ft (2024)
• Victorial Nagar: Rs 1,100 per sq.ft (2024)
• Vgn Highland: Rs 3,575 per sq.ft (2024)
• Vellalar Street: Rs 1,100 per sq.ft (2024)
• Sri Krishna Garden: Rs 1,980 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. Please 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?

The Sub Registrar Office that covers Vigneshwara Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tharapakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for both parties. It helps in establishing a fair price for the transaction, as the registration process mandates adherence to these values set by the authorities.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar?

The current guideline value of Vigneshwara Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Vigneshwara Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations in Vigneshwara Nagar?

The Pammal Sub Registrar Office handles property registrations for Vigneshwara Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined in Tharapakkam?

The guideline value in Tharapakkam is determined by the Registration Department's guideline value register, which is revised periodically to reflect changes in land classification and market conditions.