Guideline Value for Vishnu Nagar extn

Vishnu Nagar extn guideline value

The current guideline value of Vishnu Nagar extn is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this locality is Residential Class I Type - II.

How the guideline value of Vishnu Nagar extn has changed

The guideline value for Vishnu Nagar extn has undergone several revisions over the years. The earliest recorded value was Rs 400 per sq.ft in 2007. This value saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a rise of 400%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, followed by another increase to the current rate of Rs 2,200 per sq.ft in 2024, reflecting a 10% rise from the previous year. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 450% in the guideline value for Vishnu Nagar extn.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Vishnu Nagar extn's current value below this median.

• Vishnu Nagar: Rs 2,200 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,320 per sq.ft (2024)
• V.O.C. Street: Rs 6,600 per sq.ft (2024)
• V.V. Avenue: Rs 2,200 per sq.ft (2024)
• Well Street (Ethirajapuram): Rs 3,300 per sq.ft (2024)
• West Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Nagar extn

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishnu Nagar extn?

The Sub Registrar Office that covers Vishnu Nagar extn is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Tambaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. It serves as a benchmark for the minimum value at which a property can be registered.

During the registration process, the authorities will assess the property based on its guideline value to ensure that the transaction reflects a fair value. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Vishnu Nagar extn?

The current guideline value of Vishnu Nagar extn is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office should I visit for transactions in Vishnu Nagar extn?

The Tambaram Joint 1 Sub Registrar Office covers Vishnu Nagar extn, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Vishnu Nagar extn?

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