Guideline Value for New Vinayagar Street

New Vinayagar Street guideline value

The current guideline value of New Vinayagar Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of New Vinayagar Street has changed

In the 2007 revision, the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking an increase of 471%. However, in the 2017 revision, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value then rose to Rs 4,000 per sq.ft in the 2023 revision, reflecting a 49% increase. The latest revision in 2024 saw the guideline value increase to Rs 4,400 per sq.ft, a rise of 10% from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 529%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value among these streets is Rs 3,900 per sq.ft, placing New Vinayagar Street's 2024 figure above this median.

• N G O Colony 1st Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• N G O Colony 4th Street: Rs 3,900 per sq.ft (2024)
• North Street Lakshmi Nagar 4th Stage: Rs 4,400 per sq.ft (2024)
• N S Naidu Layout: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in New Vinayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers New Vinayagar Street?

The Sub Registrar Office that covers New Vinayagar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thalakanancherry. It determines the minimum value at which a property can be registered, ensuring that the correct stamp duty and registration fees are calculated based on this value.

When a property is sold, the guideline value is used to assess the applicable charges. If the sale price is higher than the guideline value, the duty is charged on the sale price instead, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Vinayagar Street?

The current guideline value of New Vinayagar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 529% during this period.

What is the stamp duty for property on New Vinayagar Street?

The stamp duty for property on New Vinayagar Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for New Vinayagar Street?

The Sub Registrar Office for New Vinayagar Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the guideline values of other streets in Thalakanancherry?

Other streets in Thalakanancherry have varying guideline values, with rates ranging from Rs 2,200 to Rs 5,500 per sq.ft. For example, N G O Colony streets have a guideline value of Rs 3,900 per sq.ft, while North Street Lakshmi Nagar 4th Stage and N S Naidu Layout are valued at Rs 4,400 per sq.ft.