Guideline Value for Vigneshwara Nagar

Vigneshwara Nagar guideline value

The current guideline value of Vigneshwara Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024. This area is located in Porur village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Vigneshwara Nagar has changed

The guideline value for Vigneshwara Nagar has seen several revisions over the years. Starting from Rs 430 per sq.ft in 2002, it increased to Rs 515 per sq.ft in 2003, marking a 20% rise. By 2007, the value jumped significantly to Rs 836 per sq.ft, reflecting a 62% increase. The value further escalated to Rs 2,412 per sq.ft in 2017, which was a 331% increase from the previous revision. However, it then decreased to Rs 3,600 per sq.ft in 2012, representing a 33% decline. The most recent revisions show an increase to Rs 3,600 per sq.ft in 2023 and then to Rs 3,960 per sq.ft in 2024, which is a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 821%. There are no figures available for the years not listed in the register for this street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value is Rs 3,960 per sq.ft, which is equal to the current value for Vigneshwara Nagar.

• Vigneshwara Nagar Bharathiyar Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Cholan Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Ganga kaveri 1st Cross Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Ganga Kaveri 2nd Cross Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Ganga Kaveri 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

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, resulting in a total of Rs 3,56,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

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 additional details.

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

The guideline value is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations 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 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 430 per sq.ft to Rs 3,960 per sq.ft in 2024, marking an overall increase of 821%.

What is the stamp duty rate in Vigneshwara Nagar?

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

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

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

What are the other streets with the same guideline value in Porur?

Other streets in Porur with the same guideline value of Rs 3,960 per sq.ft include Vigneshwara Nagar Bharathiyar Street, Vigneshwara Nagar Cholan Street, and several others listed in the guideline values section.