Guideline Value for Vishnu Nagar

Vishnu Nagar guideline value

The current guideline value of Vishnu Nagar, located in Vilangadupakkam village under the Redhills SRO, is Rs 440 per sq.ft, 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

Over the years, the guideline value of Vishnu Nagar has seen several revisions. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, but then decreased to Rs 268 per sq.ft in 2017. The value then rose significantly to Rs 400 per sq.ft in 2023, and further increased to Rs 440 per sq.ft in 2024. The revisions for the years 2002 and 2003 have no figure for this street in the register.

From 2007 to 2024, the overall increase in guideline value is 120%. Notably, the change from 2023 to 2024 represents a 10% increase, while the jump from 2017 to 2023 shows a substantial rise of 49%. The 2012 to 2017 period saw a decrease of 33%, and the 2007 to 2012 period experienced a 100% increase.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the current guideline value of Vishnu Nagar. Below are other streets in Vilangadupakkam with their respective guideline values:

• Viswagayathri Nagar: Rs 440 per sq.ft (2024)
• Vivek Nagar Annex: Rs 440 per sq.ft (2024)
• Vivek Nagar Annex I: Rs 550 per sq.ft (2024)
• Vijay Nagar: Rs 440 per sq.ft (2024)
• Vigneshwara Nagar Annex: Rs 770 per sq.ft (2024)
• Vellalar Veethi: 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Vilangadupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is particularly significant for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vishnu Nagar?

The current guideline value of Vishnu Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, showing an overall increase of 120% during this period.

What are the stamp duty rates for property in Vishnu Nagar?

The stamp duty rate for property in Vishnu Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vishnu Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Vilangadupakkam?

The median guideline value in Vilangadupakkam is Rs 440 per sq.ft, which is also the current guideline value for Vishnu Nagar.