Guideline Value for New Vinoba Nagar 1st street

New Vinoba Nagar 1st street guideline value

The current guideline value of New Vinoba Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of New Vinoba Nagar 1st street has changed

The guideline value for New Vinoba Nagar 1st street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 600 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2012 revision, marking a 100% rise. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the 2012 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which means that the guideline value of New Vinoba Nagar 1st street is below the median.

• New Vinoba Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• New Vinoba Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• New Vaidhyanathan Street: Rs 4,400 per sq.ft (2024)
• New Thandavarayan Street: Rs 6,600 per sq.ft (2024)
• New Soliappan Street: Rs 2,200 per sq.ft (2024)
• New Sastri Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Vinoba Nagar 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, leading to a total of Rs 1,17,000 for both fees. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Vinoba Nagar 1st street?

The Sub Registrar Office that covers New Vinoba Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall costs involved in the property transaction. This ensures that all parties comply with the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of New Vinoba Nagar 1st street?

The current guideline value of New Vinoba Nagar 1st street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, and then to Rs 1,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2017, and 2023.

What is the land classification for New Vinoba Nagar 1st street?

The land classification for New Vinoba Nagar 1st street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for New Vinoba Nagar 1st street?

The Sub Registrar Office for New Vinoba Nagar 1st street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in New Vinoba Nagar 1st street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty at 7% would be Rs 91,000.