Guideline Value for Vishwanathapuram

Vishwanathapuram guideline value

The current guideline value of Vishwanathapuram is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Nanganallur village, under the Alandur Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Vishwanathapuram has changed

The guideline value for Vishwanathapuram has undergone several revisions over the years. The earliest recorded revision was in 2002, with a value of Rs 331 per sq.ft. This increased to Rs 376 per sq.ft in 2003, marking a change of +14%. The value rose significantly to Rs 1,200 per sq.ft in 2007, reflecting a +219% increase. Following this, the 2012 revision saw a decrease to Rs 4,000 per sq.ft, which was a drop of -33%. In 2017, the guideline value increased to Rs 2,680 per sq.ft, showing a +49% change. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, before it increased to the current rate of Rs 4,400 per sq.ft in 2024, a change of +10%.

There are no figures available for the years between these revisions specifically for Vishwanathapuram. Overall, from 2002 to 2024, the guideline value has increased by +1229%.

Guideline values in Nanganallur

Nanganallur has a total of 155 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 6,600 per sq.ft in 2024. The median value for these streets is Rs 3,900 per sq.ft, and Vishwanathapuram's current guideline value is above this median.

• Venugopalapuram: Rs 3,900 per sq.ft (2024)
• Vembuli Amman Koil 2nd Lane: Rs 3,300 per sq.ft (2024)
• Vembuli Amman Koil 1st Lane: Rs 3,300 per sq.ft (2024)
• Veeraragavan (lane) Street: Rs 4,400 per sq.ft (2024)
• Veeramamunivar Street: Rs 2,800 per sq.ft (2024)
• T N G O COLONY 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vishwanathapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vishwanathapuram?

The Sub Registrar Office covering Vishwanathapuram is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property registration in Nanganallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, buyers must ensure that they are aware of the current guideline value for their specific area, as this will directly impact the costs associated with the transaction. Accurate knowledge of the guideline value helps in budgeting for the purchase and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vishwanathapuram?

The current guideline value of Vishwanathapuram is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 4,400 per sq.ft in 2024. It has increased from Rs 331 per sq.ft in 2002 to the current rate, reflecting a significant overall increase.

What is the registration office for Vishwanathapuram?

The registration office for Vishwanathapuram is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated in Vishwanathapuram?

Stamp duty in Vishwanathapuram is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

What are the guideline values of other streets in Nanganallur?

Other streets in Nanganallur have varying guideline values, ranging from Rs 2,800 to Rs 6,600 per sq.ft. For instance, Venugopalapuram has a guideline value of Rs 3,900 per sq.ft in 2024.