Guideline Value for GENGAI VINAYAGAR KOVIL ST

Gengai Vinayagar Kovil St guideline value

The current guideline value of Gengai Vinayagar Kovil St is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the jurisdiction of the Walajabad Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - I.

How the guideline value of Gengai Vinayagar Kovil St has changed

The guideline value for Gengai Vinayagar Kovil St has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 502 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 750 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Thus, the guideline values have remained consistent at Rs 750 per sq.ft since the 2023 revision, reflecting stability in the recent years.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that have a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. Gengai Vinayagar Kovil St's 2024 figure aligns perfectly with this median.

• Gengai Amman Kovil St: Rs 750 per sq.ft (2024)
• Gopal Naidu Santhu Street: Rs 1,200 per sq.ft (2024)
• Gopal Naidu Street: Rs 1,200 per sq.ft (2024)
• Eswaran Koil Street: Rs 750 per sq.ft (2024)
• Indara Nager New Colony: Rs 750 per sq.ft (2024)
• Ehthiralu Naidu Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Gengai Vinayagar Kovil St

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, totaling Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Gengai Vinayagar Kovil St?

The Gengai Vinayagar Kovil St falls under the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit this link.

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

The guideline value plays a crucial role in the registration process of property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value for Gengai Vinayagar Kovil St?

The current guideline value for Gengai Vinayagar Kovil St is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft from 2012 to 2024, with a drop to Rs 502 per sq.ft in 2017, followed by a 49% increase back to Rs 750 per sq.ft in 2023.

What is the land classification for Gengai Vinayagar Kovil St?

The land classification for Gengai Vinayagar Kovil St is Residential Class IV Type - I.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated in Walajabad?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 7,50,000 would incur a stamp duty of Rs 52,500 at a rate of 7%.