Guideline Value for Viswagayathri Nagar

Viswagayathri Nagar guideline value

The current guideline value of Viswagayathri Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Viswagayathri Nagar has changed

The guideline value for Viswagayathri Nagar has seen several revisions over the years. Starting with the 2003 revision, the value was Rs 32 per sq.ft. This figure increased significantly to Rs 200 per sq.ft in 2007, marking a 525% increase. The value then rose to Rs 400 per sq.ft in 2012, reflecting a 100% increase from the previous revision. However, it dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 400 per sq.ft, followed by a 10% increase to Rs 440 per sq.ft in 2024.

In summary, the guideline value has changed from Rs 32 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, which is an overall increase of 1275%. The register has no figure for the year 2002 for this street.

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, with the median value being Rs 440 per sq.ft. The guideline value for Viswagayathri Nagar matches this median.

• Vishnu 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 Viswagayathri 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, while 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Viswagayathri Nagar?

The Sub Registrar Office that covers Viswagayathri Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vilangadupakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When a buyer approaches the registration office, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transaction.

Frequently asked questions

What is the current guideline value of Viswagayathri Nagar?

The current guideline value of Viswagayathri 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 32 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1275% over the years.

What is the land classification for Viswagayathri Nagar?

Viswagayathri Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for Viswagayathri Nagar?

The Redhills Sub Registrar Office is responsible for handling property registrations in Viswagayathri Nagar.