Guideline Value for Vishu Nagar

Vishu Nagar guideline value

The current guideline value of Vishu Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chembarambakkam village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vishu Nagar has changed

Over the years, the guideline value for Vishu Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, an increase from Rs 1,000 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision was Rs 670 per sq.ft, which represented a significant increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision was Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 value.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, which is the same as the current guideline value for Vishu Nagar.

• V M E Flats: Rs 1,100 per sq.ft (2024)
• Vijaylakshmi Nagar I & II: Rs 1,100 per sq.ft (2024)
• V.R Lakshmi Avenue: Rs 2,700 per sq.ft (2024)
• Yamuna Nagar: Rs 550 per sq.ft (2024)
• Thilakar Street: Rs 878 per sq.ft (2024)
• Thilagar Street 97/4c,4i,4j,5,6,7,8,9,10: Rs 878 per sq.ft (2024)

Stamp duty and registration fee for property in Vishu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to 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 Vishu Nagar?

The Sub Registrar Office that covers Vishu Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chembarambakkam. It determines 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, it is essential to consider the guideline value as it impacts the overall costs involved in the transaction. Buyers should be aware that the guideline value may affect their financial planning and budgeting for property purchases.

Frequently asked questions

What is the current guideline value for Vishu Nagar?

The current guideline value for Vishu 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 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. It increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023, and decreased from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017.

What is the land classification of Vishu Nagar?

Vishu Nagar is classified as Residential Class II Type - I, indicating its suitability for residential developments.

What are the stamp duty and registration fees for properties in Vishu Nagar?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a total of Rs 99,000 in duties and fees.

Where is the Sub Registrar Office for Vishu Nagar located?

The Sub Registrar Office for Vishu Nagar is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office handles the registration of properties in the area.