Guideline Value for Viman Nagar

Viman Nagar guideline value

The current guideline value of Viman Nagar, located in Pozhichalur village, is Rs 2,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Viman Nagar has changed

The guideline value for Viman Nagar has seen significant changes over the years. In 2007, the guideline value was Rs 400 per sq.ft. This figure rose to Rs 1,340 per sq.ft in 2017, marking an increase of 235%. The value continued to rise, reaching Rs 2,000 per sq.ft in 2023, which is a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Viman Nagar's 2024 figure above that median.

• Vinayaga Nagar: Rs 1,650 per sq.ft (2024)
• Villaiyadu Vinayagar koil Street: Rs 1,100 per sq.ft (2024)
• Vijaya Nagar: Rs 1,320 per sq.ft (2024)
• Vishnu Street: Rs 1,100 per sq.ft (2024)
• Vivekanthar Street: Rs 1,100 per sq.ft (2024)
• VOC Street (12): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Viman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Viman Nagar?

The Sub Registrar Office that covers Viman Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pozhichalur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal documentation. This ensures that the transaction is recorded accurately and complies with local regulations.

Additionally, the guideline value serves as a reference point for both buyers and sellers, helping to establish a clear understanding of the property's worth in the current market. It is essential to be aware of the latest guideline values to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Viman Nagar?

The current guideline value of Viman Nagar is Rs 2,200 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 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 450%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total fees would be Rs 1,98,000.

Which office handles registrations for properties in Viman Nagar?

The Pammal Sub Registrar Office handles registrations for properties in Viman Nagar. It is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees required for legal documentation. It serves as a reference for buyers and sellers to understand the property's worth in the market.