Guideline Value for Vishal Nagar Annexe

Vishal Nagar Annexe guideline value

The current guideline value of Vishal Nagar Annexe is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-B village and falls under the Kunrathur SRO. The land classification for this property is Residential Special Type - I.

How the guideline value of Vishal Nagar Annexe has changed

The guideline value for Vishal Nagar Annexe has seen significant changes over the years. In the 2017 revision, the value was set at Rs 938 per sq.ft. This increased to Rs 1,400 per sq.ft in the 2023 revision, marking a 49% rise. The current figure for 2024 is Rs 1,540 per sq.ft, reflecting a further increase of 10% from the previous year.

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

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median value is Rs 1,540 per sq.ft, which is the same as the current guideline value for Vishal Nagar Annexe.

• Vishal Nagar: Rs 1,540 per sq.ft (2024)
• Vishal Nagar Phase I: Rs 1,540 per sq.ft (2024)
• Vinayagar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Vinayagam Avenue Phase - I: Rs 2,630 per sq.ft (2024)
• Vinayaga Avenue Phase II: Rs 1,540 per sq.ft (2024)
• Vlc Dhanapal Nagar: Rs 2,460 per sq.ft (2024)

Stamp duty and registration fee for property in Vishal Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, totaling Rs 1,38,600. 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 more details.

Which Sub Registrar Office covers Vishal Nagar Annexe?

The Sub Registrar Office that covers Vishal Nagar Annexe 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 Kunrathour-B

The guideline value is a crucial factor in property transactions in Kunrathour-B. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area. Buyers and sellers should be aware that the guideline value may differ from the actual sale price.

During the registration process, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vishal Nagar Annexe?

The current guideline value of Vishal Nagar Annexe is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and further to Rs 1,540 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the land classification for Vishal Nagar Annexe?

The land classification for Vishal Nagar Annexe is Residential Special Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,38,600.

Where is the Sub Registrar Office located for this area?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in Vishal Nagar Annexe.