Guideline Value for SRI VINAYAGA NAGAR

Sri Vinayaga Nagar guideline value

The current guideline value of Sri Vinayaga Nagar, located in Kizhavalem village under the Madurandakam SRO, is Rs 103 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sri Vinayaga Nagar has changed

Over the years, the guideline value of Sri Vinayaga Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 103 per sq.ft, which is an increase from Rs 100 per sq.ft in 2023. This change represents a 3% increase. Prior to that, in 2017, the guideline value was Rs 57 per sq.ft, marking a significant increase of 75% to the 2023 figure. The 2012 revision recorded a value of Rs 85 per sq.ft, which was a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 21%.

The register has no figures for the revisions in 2002, 2003, and 2007. This lack of data means we cannot assess the changes during those years.

Guideline values in Kizhavalem

In Kizhavalem, there are 19 streets under the Madurandakam SRO with a guideline value for 2024 ranging from Rs 100 to Rs 400 per sq.ft. The median value is Rs 103 per sq.ft, which is equal to the current guideline value of Sri Vinayaga Nagar. Below are the guideline values for other streets in Kizhavalem:

• Sri Ranga Nagar Phase - II: Rs 100 per sq.ft (2024)
• Sri Ranga Nagar: Rs 101 per sq.ft (2024)
• Sriram Nagar: Rs 120 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 103 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 400 per sq.ft (2024)
• Sri Balaji Associates Sri Ranga Nagar State Hith Way Golden City: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vinayaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total to Rs 9,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Vinayaga Nagar?

The Sub Registrar Office that covers Sri Vinayaga Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process for buying or selling property in Kizhavalem. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Vinayaga Nagar?

The current guideline value of Sri Vinayaga Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 85 per sq.ft to Rs 103 per sq.ft in 2024, reflecting an overall increase of 21%. Notably, there was a significant increase of 75% from 2017 to 2023.

What is the land classification for Sri Vinayaga Nagar?

Sri Vinayaga Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes within the area.

Where can I find the registration office for Sri Vinayaga Nagar?

The registration office for Sri Vinayaga Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 9,270.