Guideline Value for Vigneshwara Nagar

Vigneshwara Nagar guideline value

The current guideline value of Vigneshwara Nagar is Rs 1,008 per sq.ft, effective from 1 July 2024. This area is located in Ariyalur village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vigneshwara Nagar has changed

The guideline value for Vigneshwara Nagar has seen significant changes over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 150 per sq.ft, which was a notable figure at that time.

With the 2024 revision, the guideline value increased dramatically to Rs 1,008 per sq.ft, reflecting a change of +572% from the previous year. This substantial increase highlights the evolving landscape of property valuation in the area.

Guideline values in Ariyalur

Ariyalur village has 24 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,002 to Rs 1,008 per sq.ft. The median value for these streets is Rs 1,002 per sq.ft, positioning Vigneshwara Nagar above this median.

• Zion Nagar: Rs 1,002 per sq.ft (2024)
• Subham Nagar: Rs 1,002 per sq.ft (2024)
• Sri Abirami Nagar: Rs 1,004 per sq.ft (2024)
• Shanthi Nagar: Rs 1,004 per sq.ft (2024)
• P.T.C. Nagar: Rs 1,002 per sq.ft (2024)
• Perumal Koil Street (Colony): Rs 1,002 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 1,008 per sq.ft, the guideline value amounts to Rs 10,08,000. The stamp duty at 7% would be Rs 70,560, and the registration fee at 2% would be Rs 20,160, totaling Rs 90,720. It is important to note that the 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 details.

Which Sub Registrar Office covers Vigneshwara Nagar?

The Sub Registrar Office that covers Vigneshwara Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Ariyalur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of their financial obligations. It is essential to refer to the latest guideline value to avoid any 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 1,008 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 150 per sq.ft in 2023 to Rs 1,008 per sq.ft in 2024, marking a significant change of +572%.

What is the median guideline value for streets in Ariyalur?

The median guideline value for streets in Ariyalur under the Redhills SRO is Rs 1,002 per sq.ft, with Vigneshwara Nagar's value being above this median.

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

For a property valued at Rs 10,08,000, the stamp duty would be Rs 70,560 and the registration fee would be Rs 20,160, totaling Rs 90,720.

Where is the Sub Registrar Office for Vigneshwara Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.