Guideline Value for WINGS PON NAGAR

Wings Pon Nagar guideline value

The current guideline value of Wings Pon Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vedavakkam village, under the Madurandakam SRO, and is classified as Residential Special Type - III.

How the guideline value of Wings Pon Nagar has changed

The guideline value for Wings Pon Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, prior to that, in 2017, the guideline value was Rs 100 per sq.ft, marking a 50% increase by 2023. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but overall from 2012 to 2024, there has been no change, with the current value still at Rs 150 per sq.ft.

Guideline values in Vedavakkam

In Vedavakkam, there are six streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median value of these streets is Rs 150 per sq.ft, which matches the guideline value of Wings Pon Nagar.

• Vgp Gold Fields: Rs 200 per sq.ft (2024)
• Vasantham Nagar Phase I: Rs 200 per sq.ft (2024)
• Sri Thirumala Garden: Rs 126 per sq.ft (2024)
• Guberamangala Nagar: Rs 100 per sq.ft (2024)
• Anandham Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Wings Pon Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Wings Pon Nagar?

The Sub Registrar Office that covers Wings Pon Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Vedavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the local market conditions.

When buying or selling property, the guideline value helps both buyers and sellers understand the legal and financial implications of the transaction. It is essential to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Wings Pon Nagar?

The current guideline value of Wings Pon Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, then back to Rs 150 per sq.ft in 2023 and 2024, with no overall change from 2012 to 2024.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 13,500.

Which office handles property registrations for Wings Pon Nagar?

The Madurandakam Sub Registrar Office handles property registrations for Wings Pon Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306.

How is the guideline value determined for properties in Vedavakkam?

The guideline value is determined based on various factors, including land classification and local market conditions. It serves as a reference point for property transactions in the area.