Guideline Value for Kari Vinayagar Nagar

Kari Vinayagar Nagar guideline value

The current guideline value of Kari Vinayagar Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Vadakal village under the Sriperumpudur SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Kari Vinayagar Nagar has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 50 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value dropped to Rs 134 per sq.ft, which was a decrease of 33%. The value then rose again to Rs 200 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2007 to 2024 is a substantial 300%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Vadakal

In Vadakal village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 300 per sq.ft, indicating that Kari Vinayagar Nagar's 2024 figure is below this median.

• Kayathiri Nagar: Rs 550 per sq.ft (2024)
• Kalaignar Nagar: Rs 200 per sq.ft (2024)
• Kaivalyam Nagar: Rs 500 per sq.ft (2024)
• Jemi Garden Phase III: Rs 400 per sq.ft (2024)
• Iswaryam Nagar: Rs 800 per sq.ft (2024)
• Mariyamman Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Kari Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kari Vinayagar Nagar?

Kari Vinayagar Nagar is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakal. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is sold, the guideline value is used to determine the minimum sale price for registration purposes. This ensures that transactions are recorded at a value that reflects the official assessment of the property’s worth.

Frequently asked questions

What is the current guideline value of Kari Vinayagar Nagar?

The current guideline value of Kari Vinayagar Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 50 per sq.ft to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in 2023, remaining unchanged in 2024.

What are the guideline values of other streets in Vadakal?

Other streets in Vadakal have varying guideline values, with rates ranging from Rs 150 to Rs 800 per sq.ft. For example, Kayathiri Nagar is Rs 550 per sq.ft, while Mariyamman Koil Street is Rs 200 per sq.ft.

How is the stamp duty calculated for properties in Kari Vinayagar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft property at Rs 200 per sq.ft, the stamp duty would be Rs 14,000.

Where can I find the Sub Registrar Office for Kari Vinayagar Nagar?

The Sub Registrar Office for Kari Vinayagar Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more details online.