Guideline Value for Vinneesa Nagar

Vinneesa Nagar guideline value

The current guideline value of Vinneesa Nagar is Rs 720 per sq.ft, effective from 1 July 2024. This locality is situated in Serapanancheri village under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Vinneesa Nagar has changed

Over the years, the guideline value of Vinneesa Nagar has undergone several revisions. The 2012 revision set the value at Rs 650 per sq.ft, which then decreased to Rs 435 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 650 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 720 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. However, the period from 2012 to 2017 saw a decline of 33%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,440 per sq.ft. The median value for these streets is Rs 720 per sq.ft, which aligns with the guideline value of Vinneesa Nagar.

• Vignesh Nagar: Rs 720 per sq.ft (2024)
• Walajabad Main Road: Rs 990 per sq.ft (2024)
• Vetri Vinayagar Avenue: Rs 720 per sq.ft (2024)
• Vetri Nagar: Rs 720 per sq.ft (2024)
• Zion Nagar: Rs 720 per sq.ft (2024)
• Venkatajalapathi Nagar: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Vinneesa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, bringing the total charges to Rs 64,800. It is important to note that 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 Vinneesa Nagar?

The Sub Registrar Office that covers Vinneesa 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 Serapanancheri

The guideline value plays a crucial role in property transactions within Serapanancheri. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. This value is determined by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, buyers and sellers must ensure that the transaction adheres to the current guideline value. This ensures compliance with legal requirements and helps in the accurate calculation of associated fees.

Frequently asked questions

What is the current guideline value of Vinneesa Nagar?

The current guideline value of Vinneesa Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then increased to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the registration office for Vinneesa Nagar?

The registration office for Vinneesa Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Vinneesa Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,20,000, the stamp duty at 7% would be Rs 50,400.

What is the land classification of Vinneesa Nagar?

Vinneesa Nagar is classified as Residential Class I Type - I, which indicates its suitability for residential development.