Guideline Value for Vishnu Nagar Extn II

Vishnu Nagar Extn II guideline value

The current guideline value of Vishnu Nagar Extn II is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village and falls under the Padappai SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vishnu Nagar Extn II has changed

The guideline value for Vishnu Nagar Extn II has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,800 per sq.ft. This value decreased to Rs 1,206 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,800 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 1,980 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, indicating that the guideline value for Vishnu Nagar Extn II is below this median.

• Vishnu Nagar 4th Street: Rs 2,310 per sq.ft (2024)
• Vishnu Nagar: Rs 2,640 per sq.ft (2024)
• Vivekananda Street: Rs 2,640 per sq.ft (2024)
• Vivek Nagar: Rs 1,980 per sq.ft (2024)
• Vivek Nagar Extension: Rs 1,320 per sq.ft (2024)
• V.N.Apartments: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Nagar Extn II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Therefore, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vishnu Nagar Extn II?

The Sub Registrar Office that covers Vishnu Nagar Extn II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vishnu Nagar Extn II?

The current guideline value of Vishnu Nagar Extn II is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Vishnu Nagar Extn II?

For a 1,000 sq.ft plot, the guideline value is Rs 19,80,000, resulting in a stamp duty of Rs 1,38,600 and a registration fee of Rs 39,600, totaling Rs 1,78,200.

Which Sub Registrar Office covers this area?

The Padappai Sub Registrar Office covers Vishnu Nagar Extn II, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Vishnu Nagar Extn II?

The land classification for Vishnu Nagar Extn II is Residential Class III Type - I.