Guideline Value for Vishnu Nagar Annex

Vishnu Nagar Annex guideline value

The current guideline value of Vishnu Nagar Annex, located in Grandlyon village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Vishnu Nagar Annex has changed

The guideline value for Vishnu Nagar Annex has undergone several revisions over the years. Starting from Rs 38 per sq.ft in 2003, it increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 400 per sq.ft in 2012, before dropping to Rs 268 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 400 per sq.ft, which was then increased to Rs 440 per sq.ft in 2024.

In terms of percentage changes, the guideline value saw a remarkable increase of 1,058% from 2003 to 2024. The increase from 2023 to 2024 was 10%, while the jump from 2017 to 2023 was 49%. The value decreased by 33% from 2012 to 2017 and increased by 100% from 2007 to 2012. The most substantial increase was from 2003 to 2007, which was 426%. The register has no figure for this street for the year 2002.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median guideline value in this area is Rs 660 per sq.ft, placing Vishnu Nagar Annex below this median.

• Vishnu Nagar: Rs 440 per sq.ft (2024)
• Vijai Nagar: Rs 770 per sq.ft (2024)
• V.G. Nagar: Rs 440 per sq.ft (2024)
• Udhayasuriyan Nagar: Rs 440 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges to Rs 39,600. It is important to note that the 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 Vishnu Nagar Annex?

The Vishnu Nagar Annex falls under the jurisdiction of the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Grandlyon

The guideline value plays a crucial role in the registration process of property transactions in Grandlyon. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership.

It is important to understand that the guideline value serves as a benchmark for assessing the property value for registration purposes. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Vishnu Nagar Annex?

The current guideline value of Vishnu Nagar Annex is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 38 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1,058% over this period.

What are the stamp duty and registration fees for properties in Vishnu Nagar Annex?

For a 1,000 sq.ft plot, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600 based on the current guideline value.

Which Sub Registrar Office covers Vishnu Nagar Annex?

The Redhills Sub Registrar Office covers Vishnu Nagar Annex, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Vishnu Nagar Annex?

Vishnu Nagar Annex is classified as Residential Class III Type - I, indicating its designation for residential purposes.