Guideline Value for Salai Vinayagar Koil 1st lane

Salai Vinayagar Koil 1st lane guideline value

The current guideline value of Salai Vinayagar Koil 1st lane is Rs 5,200 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Salai Vinayagar Koil 1st lane has changed

The guideline value for Salai Vinayagar Koil 1st lane has seen several revisions over the years. In 2007, the guideline value was Rs 1,700 per sq.ft, which increased significantly to Rs 4,800 per sq.ft in 2012, marking a rise of 182%. However, this value decreased to Rs 3,216 per sq.ft in 2017, reflecting a drop of 33%. The guideline value then rose sharply to Rs 4,800 per sq.ft in 2023, before reaching the current value of Rs 5,200 per sq.ft in 2024, an increase of 8%.

Overall, from 2007 to 2024, the guideline value has increased by 206%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value is Rs 5,500 per sq.ft, placing the 2024 figure for Salai Vinayagar Koil 1st lane below this median.

• Salai Vinayagar Koil 2nd lane: Rs 5,200 per sq.ft (2024)
• Salai Vinayagar Koil street *: Rs 7,700 per sq.ft (2024)
• Saiva Muthiah mudali street 1to5 lane: Rs 4,900 per sq.ft (2024)
• Saiva Muthiah mudali street: Rs 5,500 per sq.ft (2024)
• R.S.S. street+: Rs 11,000 per sq.ft (2024)
• Rotlars lane: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Salai Vinayagar Koil 1st lane

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 52,00,000. The stamp duty at 7% would amount to Rs 3,64,000, and the registration fee at 2% would be Rs 1,04,000, totaling Rs 4,68,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Salai Vinayagar Koil 1st lane?

The Sub Registrar Office that covers Salai Vinayagar Koil 1st lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in establishing a fair transaction price. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Salai Vinayagar Koil 1st lane?

The current guideline value of Salai Vinayagar Koil 1st lane is Rs 5,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,700 per sq.ft in 2007 to Rs 5,200 per sq.ft in 2024, which is an overall increase of 206%.

What are the other streets in Muthialpet with their guideline values?

Other streets in Muthialpet include Salai Vinayagar Koil 2nd lane at Rs 5,200 per sq.ft, Salai Vinayagar Koil street at Rs 7,700 per sq.ft, and Saiva Muthiah mudali street at Rs 5,500 per sq.ft, among others.

What is the stamp duty rate for properties in Salai Vinayagar Koil 1st lane?

The stamp duty rate for properties in Salai Vinayagar Koil 1st lane is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Salai Vinayagar Koil 1st lane?

The Sub Registrar Office for Salai Vinayagar Koil 1st lane is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.