Guideline Value for Vishnu Nagar Extension

Vishnu Nagar Extension guideline value

The current guideline value of Vishnu Nagar Extension, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 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 Extension has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded Rs 1,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Vishnu Nagar Extension is below this median.

• Vishnu Nagar: Rs 1,300 per sq.ft (2024)
• Vinobaji Street (Ponniamman Medu): Rs 1,600 per sq.ft (2024)
• Vinobaji St, Ponniammanmedu (Ward-22): Rs 1,600 per sq.ft (2024)
• Vinayagar Nagar (Ward-29): Rs 1,600 per sq.ft (2024)
• Vinayagar Nagar (Vinayagapuram): Rs 2,200 per sq.ft (2024)
• Vinayagar Koil st (Ward No.26): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vishnu Nagar Extension?

The Vishnu Nagar Extension area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Madhavaram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When buyers register a property, they will need to consider the guideline value, as it serves as a baseline for calculating the associated costs. It is essential to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vishnu Nagar Extension?

The current guideline value of Vishnu Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024, marking an 8% increase from 2023 to 2024.

What is the land classification for Vishnu Nagar Extension?

Vishnu Nagar Extension falls under the Residential Class III Type - I land classification.

Where can I find more information about the stamp duty and registration fees?

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

Which office handles property registration for Vishnu Nagar Extension?

The Madhavaram Sub Registrar Office handles property registration for Vishnu Nagar Extension, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.