Guideline Value for Vishnu Nagar

Vishnu Nagar guideline value

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

How the guideline value of Vishnu Nagar has changed

Over the years, the guideline value of Vishnu Nagar has seen significant changes. The 2002 revision recorded a guideline value of Rs 185 per sq.ft, which increased to Rs 350 per sq.ft in 2003. By 2007, the value rose to Rs 400 per sq.ft, and then saw a substantial jump to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and finally reached Rs 2,200 per sq.ft in the 2024 revision, reflecting an overall increase of 1089% from 2002 to 2024.

The changes between the revisions show notable fluctuations. From 2002 to 2003, the value increased by 89%, followed by a 14% increase from 2003 to 2007. The jump from 2007 to 2012 was remarkable at 400%, but the value then decreased by 33% from 2012 to 2017. After a 49% increase from 2017 to 2023, the most recent revision from 2023 to 2024 saw a 10% rise.

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's current value below this median.

• Vishnu Nagar extn: 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

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 charges to Rs 1,98,000. It is important to note that the 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 further assistance.

Which Sub Registrar Office covers Vishnu Nagar?

The Sub Registrar Office that covers Vishnu Nagar 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 information.

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. It is used to determine the stamp duty and registration fees when buying or selling property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, regardless of the actual sale price.

Frequently asked questions

What is the current guideline value of Vishnu Nagar?

The current guideline value of Vishnu Nagar 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 185 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Vishnu Nagar?

Vishnu Nagar is classified as Residential Class I Type - II.

Where is the Sub Registrar Office for Vishnu Nagar located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu zone.

How is stamp duty calculated in Vishnu Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a plot valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.