Guideline Value for Chinthamani Vinayagar Koil Street

Chinthamani Vinayagar Koil Street guideline value

The current guideline value of Chinthamani Vinayagar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chinthamani Vinayagar Koil Street has changed

The guideline value for Chinthamani Vinayagar Koil Street has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 4,500 per sq.ft. However, in the 2017 revision, it decreased to Rs 3,015 per sq.ft, marking a decline of 33%. The most recent revision in 2024 sees the guideline value rise significantly to Rs 4,950 per sq.ft, an increase of 64% from 2017.

Overall, comparing the 2012 figure to the 2024 figure, there has been a slight increase of 10%. It is important to note that the register does not provide figures for Chinthamani Vinayagar Koil Street for the years 2002, 2003, 2007, and 2023.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, making the current value of Chinthamani Vinayagar Koil Street above the median.

• Chithambaram Street: Rs 4,950 per sq.ft (2024)
• Chowdri Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 12th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 13th Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar 14th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chinthamani Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total fees together to Rs 4,45,500. It is important to note that the 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 more detailed calculations.

Which Sub Registrar Office covers Chinthamani Vinayagar Koil Street?

The Sub Registrar Office that covers Chinthamani Vinayagar Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

Additionally, the guideline value helps in assessing the worth of a property during the registration process. Buyers and sellers should be aware of the current guideline value to ensure they are complying with local regulations and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Chinthamani Vinayagar Koil Street?

The current guideline value of Chinthamani Vinayagar Koil Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 in 2012 to Rs 3,015 in 2017, and then increased to Rs 4,950 in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Chinthamani Vinayagar Koil Street?

Chinthamani Vinayagar Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Chinthamani Vinayagar Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,50,000, the stamp duty at 7% would be Rs 3,46,500.