Guideline Value for Vigneswara nagar Cheran Street

Vigneswara nagar Cheran Street guideline value

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

How the guideline value of Vigneswara nagar Cheran Street has changed

The guideline value for Vigneswara nagar Cheran Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which then dropped to Rs 2,412 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 3,600 per sq.ft in 2023, and currently stands at Rs 3,960 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Porur

In Porur village, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, 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 the same as the current value for Vigneswara nagar Cheran Street.

• Vigneshwara Nagar VOC Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Vallal Pari Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Vaigai Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Seethakathi Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Pandian Street: Rs 3,960 per sq.ft (2024)
• Vigneshwara Nagar Pallavan Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneswara nagar Cheran Street

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, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vigneswara nagar Cheran Street?

The Sub Registrar Office that covers Vigneswara nagar Cheran Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more 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 applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable duties, ensuring that the transaction is documented accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vigneswara nagar Cheran Street?

The current guideline value of Vigneswara nagar Cheran Street is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2023 to Rs 3,960 per sq.ft in 2024, representing a 10% increase. The value was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What is the land classification for Vigneswara nagar Cheran Street?

Vigneswara nagar Cheran Street is classified as Residential Special Type - I, which is important for understanding the property usage regulations in the area.

Where can I find the registration office for this area?

The registration office for Vigneswara nagar Cheran Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 39,60,000 would incur a stamp duty of Rs 2,77,200 at a rate of 7%.