Guideline Value for Vishnu Nagar Annex

Vishnu Nagar Annex guideline value

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

How the guideline value of Vishnu Nagar Annex has changed

Since the early 2000s, the guideline value for Vishnu Nagar Annex has seen significant changes. The 2003 revision set the value at Rs 20 per sq.ft, which increased dramatically to Rs 200 per sq.ft in 2007, marking a 900% rise. Following this, the value doubled to Rs 400 per sq.ft in 2012, but then decreased by 33% to Rs 268 per sq.ft in 2017. The 2023 revision raised it to Rs 400 per sq.ft, and with the latest 2024 revision, the value has increased by 10% to Rs 440 per sq.ft.

Overall, from 2003 to 2024, the guideline value has increased by 2100%. The register has no figure for the year 2002 for this street.

Guideline values in Pullilyon

In Pullilyon, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with the median being Rs 700 per sq.ft. The guideline value for Vishnu Nagar Annex is below this median.

• Vigneshwara Lane: Rs 440 per sq.ft (2024)
• Varalakshmi Nagar: Rs 440 per sq.ft (2024)
• Thirumaleswara Nagar: Rs 2,200 per sq.ft (2024)
• Thanigai Nagar Annex-II: Rs 440 per sq.ft (2024)
• Thanigai Nagar Annex: Rs 440 per sq.ft (2024)
• Thanigai Nagar: Rs 440 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 costs together to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishnu Nagar Annex?

The Vishnu Nagar Annex is covered by the Redhills Sub Registrar Office, 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 Pullilyon

The guideline value is a crucial factor in the registration process when buying or selling property in Pullilyon. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees that are calculated based on this value.

When a property is sold, the sale price and the guideline value are compared, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects a fair value for the property being transferred.

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 20 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 2100% over that period.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers the area of 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 of Vishnu Nagar Annex?

Vishnu Nagar Annex falls under the Residential Class III Type - I land classification, which is important for understanding the type of development allowed in the area.