Guideline Value for Vishal Nagar

Vishal Nagar guideline value

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

How the guideline value of Vishal Nagar has changed

The guideline value for Vishal Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased this to Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no recorded 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, with a median value of Rs 1,540 per sq.ft. The guideline value for Vishal Nagar aligns with this median.

• Vishal Nagar Annexe: 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

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, and 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishal Nagar?

The Sub Registrar Office that covers Vishal 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 Kunrathour-B

The guideline value is a crucial factor in the registration process when buying or selling property in Kunrathour-B. It serves as a benchmark for determining the minimum value at which property transactions can be registered.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Vishal Nagar?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 938 per sq.ft to Rs 1,540 per sq.ft in 2024, which is a total increase of 64% over the seven years.

What are the other streets in Kunrathour-B with the same guideline value?

Other streets in Kunrathour-B with the same guideline value of Rs 1,540 per sq.ft include Vishal Nagar Annexe, Vishal Nagar Phase I, and Vinayagar Nagar Extension.

What does the land classification mean for Vishal Nagar?

The land classification for Vishal Nagar is Residential Special Type - I, indicating that the area is designated primarily for residential use with specific regulations.

Where can I find more information about the registration office?

The Kunrathur Sub Registrar Office covers Vishal Nagar, and more information can be found by visiting the office or using the find your SRO link.