Guideline Value for Vigneswarapuram

Vigneswarapuram guideline value

The current guideline value of Vigneswarapuram, located in Mannivakkam village under the Gooduvancheri SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Vigneswarapuram has changed

The guideline value for Vigneswarapuram has seen several revisions over the years. In 2012, the value was set at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, it increased significantly to Rs 900 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 990 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,215 per sq.ft, placing Vigneswarapuram's 2024 figure below this median.

• Vijay Ganapathy Nagar: Rs 990 per sq.ft (2024)
• Vijay Ganapathy Nagar Extension: Rs 1,320 per sq.ft (2024)
• Venkataduraivan Nagar: Rs 990 per sq.ft (2024)
• White Field: Rs 1,320 per sq.ft (2024)
• Valajabad Road: Rs 1,650 per sq.ft (2024)
• Tvh Titanium Cty: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Vigneswarapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty, calculated at 7%, would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vigneswarapuram?

The Sub Registrar Office that covers Vigneswarapuram is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mannivakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must refer to the current guideline value to ensure they are compliant with local regulations during the registration process.

When a property is sold, the guideline value is often used as a benchmark to assess the sale price. If the sale price is higher than the guideline value, the stamp duty will be charged on the sale price instead. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vigneswarapuram?

The current guideline value of Vigneswarapuram is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Vigneswarapuram?

Vigneswarapuram is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Vigneswarapuram?

The Sub Registrar Office for Vigneswarapuram is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Vigneswarapuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at Rs 990 per sq.ft results in a total guideline value of Rs 9,90,000, leading to specific fees as outlined.