Guideline Value for Vishnu Nagar

Vishnu Nagar guideline value

The current guideline value of Vishnu Nagar, located in Padappai village under the Padappai SRO, is Rs 830 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Vishnu Nagar has changed

The guideline value for Vishnu Nagar has seen several revisions over the years. In 2003, the value was Rs 40 per sq.ft, which increased to Rs 50 per sq.ft in 2007. This marked a significant rise of 1400%. The value then remained at Rs 750 per sq.ft in 2012, but dropped to Rs 502 per sq.ft in 2017, reflecting a decrease of 33%. The next revision in 2023 set the value at Rs 750 per sq.ft, which then increased to Rs 830 per sq.ft in 2024, representing an 11% increase.

Overall, from 2003 to 2024, the guideline value has increased by 1975%. The register does not have a figure for the year 2002 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO, with a 2024 guideline value range from Rs 440 to Rs 4,000 per sq.ft. The median guideline value is Rs 830 per sq.ft, which is the same as the current value for Vishnu Nagar.

• Vinayaga Nagar: Rs 830 per sq.ft (2024)
• Vijay Sri Avenue: Rs 990 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Vedhachalam Nagar: Rs 1,320 per sq.ft (2024)
• Vedavinayagar Koil Street: Rs 830 per sq.ft (2024)
• Vandalur - Walajabad Road: 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 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty, charged at 7%, would amount to Rs 58,100, while the registration fee at 2% would be Rs 16,600. Together, the total cost for stamp duty and registration would be Rs 74,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vishnu Nagar?

The Sub Registrar Office that covers Vishnu Nagar 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 Padappai

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the government. This process aids in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vishnu Nagar?

The current guideline value of Vishnu Nagar is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 40 per sq.ft in 2003 to Rs 830 per sq.ft in 2024, marking an overall increase of 1975% over this period.

Where can I find the registration office for Vishnu Nagar?

The registration office for Vishnu Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

For a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 and the registration fee would be Rs 16,600, totaling Rs 74,700.

What is the land classification for Vishnu Nagar?

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