Guideline Value for Vigneshwara Nagar

Vigneshwara Nagar guideline value

The current guideline value of Vigneshwara Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This locality is situated in Kunrathour-B village, under the jurisdiction of the Kunrathur SRO. The land classification for this area is Residential Class I 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 oldest recorded revision is from 2017, where the value was Rs 737 per sq.ft. This figure increased to Rs 1,100 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,210 per sq.ft, which represents a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value in this area is Rs 1,540 per sq.ft, placing Vigneshwara Nagar's 2024 figure below this median.

• Vgn Serene: Rs 4,730 per sq.ft (2024)
• Vinayaga Avenue Phase II: Rs 1,540 per sq.ft (2024)
• Vinayagam Avenue Phase - I: Rs 2,630 per sq.ft (2024)
• Vinayagar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Ventasubramaniyan Nagar: Rs 1,540 per sq.ft (2024)
• Vishal Nagar: Rs 1,540 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty, charged at 7%, would be Rs 84,700, and the registration fee at 2% would be Rs 24,200. Therefore, the total cost for stamp duty and registration fee together would be Rs 1,08,900. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more detailed 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 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 Kunrathour-B

The guideline value is a crucial factor when registering property transactions in Kunrathour-B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Vigneshwara Nagar?

The current guideline value of Vigneshwara Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 737 per sq.ft in 2017 to Rs 1,210 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the median guideline value in Kunrathour-B?

The median guideline value in Kunrathour-B is Rs 1,540 per sq.ft, which is higher than Vigneshwara Nagar's current figure.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,08,900, based on the current guideline value.

Where is the Sub Registrar Office for Vigneshwara Nagar located?

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