Guideline Value for Vishnu Nagar

Vishnu Nagar guideline value

The current guideline value of Vishnu Nagar, located in Kadaperi village under the Madurandakam SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Vishnu Nagar has changed

The guideline value for Vishnu Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft. This increased to Rs 500 per sq.ft in 2012, marking a rise of 67%. However, from 2012 to 2017, the value decreased by 33% to Rs 335 per sq.ft. The value then rose significantly by 49% to Rs 500 per sq.ft in 2023, before reaching the current rate of Rs 550 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 83%.

Guideline values in Kadaperi

In Kadaperi village, there are 24 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 1,100 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value for Vishnu Nagar.

• Sri Sakthi Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Sri Sairam Nagar: Rs 550 per sq.ft (2024)
• Sri Saibaba Nagar: Rs 1,100 per sq.ft (2024)
• Sri Eri Ramsai Nagar: Rs 770 per sq.ft (2024)
• Sir Sairam Nagar: Rs 550 per sq.ft (2024)
• Kadapperi Vivekanandhan Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty is charged at 7%, amounting to Rs 38,500, and the registration fee is 2%, which is Rs 11,000. Together, the total fees would be Rs 49,500. 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?

The Sub Registrar Office that covers Vishnu Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kadaperi. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and ensuring that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Vishnu Nagar?

The current guideline value of Vishnu Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, showing an overall increase of 83% over the years.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.

Which Sub Registrar Office covers Vishnu Nagar?

The Madurandakam Sub Registrar Office covers Vishnu Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification of Vishnu Nagar?

Vishnu Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.