Guideline Value for Vishaal Nagar

Vishaal Nagar guideline value

The current guideline value of Vishaal Nagar, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vishaal Nagar has changed

Historically, the guideline value for Vishaal Nagar has seen significant changes. The 2017 revision recorded a guideline value of Rs 1,340 per sq.ft. Following this, the 2024 revision increased this value to Rs 2,200 per sq.ft, reflecting a change of +64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value has risen from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. This increase indicates a substantial upward revision in the guideline value over time.

Guideline values in Madipakkam-1

In Madipakkam-1 village, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median of Rs 2,750 per sq.ft. The guideline value for Vishaal Nagar is below this median.

• Vishaal Nagar Extn: Rs 2,200 per sq.ft (2024)
• Vijay Avenue: Rs 2,200 per sq.ft (2024)
• Vijaya Nagar Ponniamman Koil Street: Rs 2,200 per sq.ft (2024)
• Vignesh Avenue, Ramurthy Nagar: Rs 2,750 per sq.ft (2024)
• Vidhyasurabi School Street: Rs 2,200 per sq.ft (2024)
• Vidhya Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vishaal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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, bringing the total fees together to 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 Vishaal Nagar?

The Sub Registrar Office that covers Vishaal Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration of property transactions in Madipakkam-1. It is used as the basis for calculating stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers, helping to establish a fair price for the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vishaal Nagar?

The current guideline value of Vishaal Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, marking a change of +64%.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, which is above the current value for Vishaal Nagar.

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

For a property valued at Rs 22,00,000 in Vishaal Nagar, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Vishaal Nagar located?

The Sub Registrar Office for Vishaal Nagar is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.