Guideline Value for Sai Nagar Vinayagam Street

Sai Nagar Vinayagam Street guideline value

The current guideline value of Sai Nagar Vinayagam Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chenchery village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sai Nagar Vinayagam Street has changed

The guideline value for Sai Nagar Vinayagam Street has seen several revisions over the years. In 2002, the guideline value was Rs 157 per sq.ft, which increased to Rs 175 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly, reaching Rs 600 per sq.ft in 2007, a 243% increase from the previous year. By 2012, the value was recorded at Rs 3,000 per sq.ft, reflecting a decrease of 400% from the 2007 figure. The guideline value then increased to Rs 2,010 per sq.ft in 2017, resulting in a 49% increase from 2012. The 2023 revision set the value at Rs 3,000 per sq.ft, which was then raised to Rs 3,300 per sq.ft in 2024, marking a 10% increase.

It is important to note that there are no figures available in the register for the revisions in years other than those specified above.

Guideline values in Chenchery

In Chenchery village, there are 44 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 7,700 per sq.ft, with a median value of Rs 4,400 per sq.ft. Sai Nagar Vinayagam Street's 2024 figure of Rs 3,300 per sq.ft is below this median.

• Ramalinga Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Ramalinga Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Ramalinga Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Ramalinga Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Rajendiran Road(Natesan Nagar): Rs 4,950 per sq.ft (2024)
• Raghavendira Colony: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Nagar Vinayagam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sai Nagar Vinayagam Street?

The Sai Nagar Vinayagam Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chenchery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

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

Frequently asked questions

What is the current guideline value of Sai Nagar Vinayagam Street?

The current guideline value of Sai Nagar Vinayagam Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 157 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the median guideline value in Chenchery?

The median guideline value in Chenchery is Rs 4,400 per sq.ft, while Sai Nagar Vinayagam Street's value is below this median.

What are the stamp duty and registration fees for Sai Nagar Vinayagam Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Sai Nagar Vinayagam Street?

The Virugambakkam Sub Registrar Office handles property registrations for Sai Nagar Vinayagam Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.