Guideline Value for Prasanna Vinayagar Koil Street

Prasanna Vinayagar Koil Street guideline value

The current guideline value of Prasanna Vinayagar Koil Street is Rs 4,400 per sq.ft. This street is located in Aminjikarai village, under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Prasanna Vinayagar Koil Street has changed

The guideline value for Prasanna Vinayagar Koil Street has seen significant changes over the years. In 2002, the value was Rs 650 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking an increase of 85%. The value then jumped to Rs 4,000 per sq.ft in 2012, a substantial rise of 233%. However, it fell to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for Prasanna Vinayagar Koil Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 577%.

Guideline values in Aminjikarai

Aminjikarai has a total of 99 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current value of Prasanna Vinayagar Koil Street. Below are some other streets in Aminjikarai:

• Pulla Avenue: Rs 16,500 per sq.ft (2024)
• Poonamallee High Road (Mangaliamman Koil to Sakywalk): Rs 16,500 per sq.ft (2024)
• Ponnuvel Thottam: Rs 11,000 per sq.ft (2024)
• Rajammal Street: Rs 4,400 per sq.ft (2024)
• Perumal Koil Street (Residential): Rs 4,400 per sq.ft (2024)
• Perumal Koil street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Prasanna Vinayagar Koil 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. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Prasanna Vinayagar Koil Street?

The Sub Registrar Office that covers Prasanna Vinayagar Koil Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Aminjikarai. It serves as a reference point for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the market.

Frequently asked questions

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

The current guideline value of Prasanna Vinayagar Koil 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 changed significantly, starting from Rs 650 per sq.ft in 2002 to the current Rs 4,400 per sq.ft in 2024. Notable changes include an increase of 233% from 2007 to 2012 and a rise of 10% from 2023 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Prasanna Vinayagar Koil Street?

The AnnaNagar Sub Registrar Office handles property registrations for Prasanna Vinayagar Koil Street. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Aminjikarai?

The median guideline value for the 99 streets in Aminjikarai is Rs 4,400 per sq.ft. This value reflects the range of guideline values from Rs 3,300 to Rs 16,500 per sq.ft across these streets.