Guideline Value for Visalakshi Nagar

Visalakshi Nagar guideline value

The current guideline value of Visalakshi Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Visalakshi Nagar has changed

In the 2017 revision, the guideline value was Rs 1,139 per sq.ft. This increased to Rs 1,700 per sq.ft in the 2023 revision, marking a significant rise of 49%. The current 2024 revision shows a further increase to Rs 1,870 per sq.ft, which is a 10% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, which is equal to the guideline value of Visalakshi Nagar.

• Vinayaga Nagar: Rs 1,870 per sq.ft (2024)
• V.M.S. Nagar: Rs 1,430 per sq.ft (2024)
• Vignesh Nagar: Rs 1,870 per sq.ft (2024)
• Walajah Street: Rs 1,870 per sq.ft (2024)
• Velleeswarar Koil Street: Rs 1,870 per sq.ft (2024)
• Vasanthapuri Phase I: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Visalakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, totaling Rs 1,68,300. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Visalakshi Nagar?

The Sub Registrar Office covering Visalakshi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is an essential factor during the registration of property transactions in Mangadu -A. It determines the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the fair value of the property and is crucial for legal documentation during the sale process.

Frequently asked questions

What is the current guideline value of Visalakshi Nagar?

The current guideline value of Visalakshi Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

The guideline value has increased by 64% from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024.

What is the registration fee for property in Visalakshi Nagar?

The registration fee is 2% of the guideline value. For a property valued at Rs 18,70,000, the registration fee would be Rs 37,400.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What other streets have the same guideline value as Visalakshi Nagar?

Other streets in Mangadu -A with the same guideline value of Rs 1,870 per sq.ft include Vinayaga Nagar, Vignesh Nagar, Walajah Street, and Velleeswarar Koil Street.