Guideline Value for Vishal Nagar Phase I

Vishal Nagar Phase I guideline value

The current guideline value of Vishal Nagar Phase I is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Kunrathour-B village under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Vishal Nagar Phase I has changed

The guideline value for Vishal Nagar Phase I has undergone several revisions over the years. In 2017, the guideline value was Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in the 2023 revision. The most recent revision in 2024 saw a further increase to Rs 1,540 per sq.ft, marking a 10% rise from the previous year. The overall increase from 2017 to 2024 is 64%.

Revisions for the years 2002, 2003, 2007, and 2012 do not have any figures listed for this street in the register. This lack of data highlights the significant changes that have occurred in the guideline value from 2017 onwards, showcasing a 49% increase from 2017 to 2023 before reaching the current figure.

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 guideline value for this area is Rs 1,540 per sq.ft, which is the same as the current guideline value for Vishal Nagar Phase I.

• Vishal Nagar Annexe: Rs 1,540 per sq.ft (2024)
• Vishal Nagar: 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 Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, while the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishal Nagar Phase I?

The Sub Registrar Office that covers Vishal Nagar Phase I 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 an essential factor when registering property transactions in Kunrathour-B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you proceed with a property transaction, the guideline value helps ensure that the registration fees are calculated fairly based on the value of the property. This value is crucial for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vishal Nagar Phase I?

The current guideline value of Vishal Nagar Phase I 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 then to Rs 1,540 per sq.ft in 2024, showing significant growth over the years.

What is the land classification for Vishal Nagar Phase I?

Vishal Nagar Phase I is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Vishal Nagar Phase I?

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

Which office handles property registrations for Vishal Nagar Phase I?

The Kunrathur Sub Registrar Office handles property registrations for Vishal Nagar Phase I, located at No.59, Road Street, Kundrathur, Chennai -600 069.