Guideline Value for Vigneswara Nagar

Vigneswara Nagar guideline value

The current guideline value of Vigneswara Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vigneswara Nagar has changed

The guideline value for Vigneswara Nagar has seen significant changes over the years. In 2007, the value was Rs 50 per sq.ft, which rose dramatically to Rs 700 per sq.ft by 2012, marking an increase of 1300%. However, by 2017, the value dropped to Rs 469 per sq.ft, a decrease of 33%. The value then increased to Rs 700 per sq.ft in 2023, representing a 49% rise, before reaching the current figure of Rs 770 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 1440%.

Guideline values in Nandambakkam

Nandambakkam has 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. Vigneswara Nagar's current guideline value is below this median.

• Vijayalakshmi Nagar: Rs 990 per sq.ft (2024)
• Vinayaga Nagar: Rs 440 per sq.ft (2024)
• Vetrimaran Nagar: Rs 670 per sq.ft (2024)
• Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 880 per sq.ft (2024)
• VLC Balaji Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneswara Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees together Rs 69,300. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vigneswara Nagar?

The Sub Registrar Office covering Vigneswara Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Nandambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Vigneswara Nagar?

The current guideline value of Vigneswara Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, an overall increase of 1440%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000. The stamp duty is Rs 53,900 and the registration fee is Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Vigneswara Nagar?

The Padappai Sub Registrar Office covers Vigneswara Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Vigneswara Nagar?

Vigneswara Nagar is classified as Residential Class II Type - I according to the local land classification regulations.