Guideline Value for Vishnu Nagar

Vishnu Nagar guideline value

The current guideline value of Vishnu Nagar, located in Puzhal village under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vishnu Nagar has changed

The guideline value for Vishnu Nagar has undergone several revisions over the years. The earliest recorded figure was Rs 733 per sq.ft in 2002. This value increased to Rs 74 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The 2012 revision set the value at Rs 800 per sq.ft, but it decreased to Rs 536 per sq.ft in 2017. The value continued to rise, reaching Rs 1,000 per sq.ft in 2023, and is now Rs 1,100 per sq.ft as of the 2024 revision.

From 2017 to 2023, the guideline value increased by 87%. The 2023 to 2024 revision saw a 10% increase. The value experienced a dramatic rise of 167% from 2007 to 2012 and a substantial 305% increase from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 50%. There are no figures available for revisions in years other than those listed.

Guideline values in Puzhal

Puzhal village comprises 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, positioning Vishnu Nagar's 2024 figure below this median.

• Vionayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vijiya Avenue: Rs 1,102 per sq.ft (2024)
• V.O.C. Street: Rs 1,100 per sq.ft (2024)
• Vijaya Garden Annexe II: Rs 1,100 per sq.ft (2024)
• Vijaya Garden Annexe I: Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the appropriate amounts are paid to the authorities.

Frequently asked questions

What is the current guideline value of Vishnu Nagar?

The current guideline value of Vishnu Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 733 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations in Vishnu Nagar?

The Redhills Sub Registrar Office handles property registrations for Vishnu Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring that the correct amounts are paid based on the higher of the guideline value or the sale price.