Guideline Value for SRI VINAY NAGAR

Sri Vinay Nagar guideline value

The current guideline value of Sri Vinay Nagar, located in Palur-A village under the Chengleput Joint II SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Vinay Nagar has changed

The guideline value for Sri Vinay Nagar has remained consistent at Rs 400 per sq.ft during the 2023 and 2024 revisions. The previous revision in 2017 recorded a guideline value of Rs 268 per sq.ft, marking a significant increase of 49% from 2017 to 2023, and the same percentage increase from 2017 to 2024.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, the only figures available are from the 2017, 2023, and 2024 revisions, with no changes noted between 2023 and 2024.

Guideline values in Palur-A

In Palur-A, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which is equal to the current value for Sri Vinay Nagar.

• S.R.K.Avenue: Rs 400 per sq.ft (2024)
• Sri Srinivasa Avenue Part-II: Rs 400 per sq.ft (2024)
• Sri Srinivasa Avenue Part-I: Rs 400 per sq.ft (2024)
• Sri Sheshatari Garden Extn-I: Rs 501 per sq.ft (2024)
• Sri Sheshatari Garden: Rs 400 per sq.ft (2024)
• Sri Seshadri Garden Pasupathi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vinay Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would amount to Rs 8,000, bringing the total fees together to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Vinay Nagar?

Sri Vinay Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further inquiries.

How the guideline value is used when you buy or sell in Palur-A

The guideline value is a crucial factor during property registration in Palur-A, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Vinay Nagar?

The current guideline value of Sri Vinay Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Vinay Nagar has remained the same at Rs 400 per sq.ft from 2023 to 2024, while it increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification for Sri Vinay Nagar?

Sri Vinay Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles property registrations for Sri Vinay Nagar and surrounding areas.

How is the stamp duty calculated for properties in Sri Vinay Nagar?

Stamp duty for properties in Sri Vinay Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.