Guideline Value for Salai Vinayagar Koil 2nd lane

Salai Vinayagar Koil 2nd lane guideline value

The current guideline value of Salai Vinayagar Koil 2nd lane is Rs 5,200 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village, under the Chennai North Joint I SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Salai Vinayagar Koil 2nd lane has changed

The guideline value for Salai Vinayagar Koil 2nd lane has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,700 per sq.ft. This increased significantly to Rs 4,800 per sq.ft in 2012, marking a growth of 182%. However, the value then dropped to Rs 3,216 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, the value saw a substantial increase to Rs 4,800 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 5,200 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that have a 2024 guideline value ranging from Rs 3,800 to Rs 18,000 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value for Salai Vinayagar Koil 2nd lane is below this median.

• Salai Vinayagar Koil 1st 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 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,200 per sq.ft, 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Salai Vinayagar Koil 2nd lane?

The Sub Registrar Office covering Salai Vinayagar Koil 2nd 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Muthialpet. It is used to determine the stamp duty and registration fees that are applicable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the duty is calculated based on the higher of the two.

Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations. It helps in assessing the costs involved in property transactions and ensures that all parties are informed about the financial obligations associated with the sale or purchase.

Frequently asked questions

What is the current guideline value of Salai Vinayagar Koil 2nd lane?

The current guideline value of Salai Vinayagar Koil 2nd lane is Rs 5,200 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 1,700 per sq.ft in 2007 to Rs 5,200 per sq.ft in 2024, marking an overall increase of 206%.

What is the median guideline value in Muthialpet?

The median guideline value in Muthialpet is Rs 5,500 per sq.ft, with Salai Vinayagar Koil 2nd lane's value being below this median.

What are the stamp duty rates for property in Salai Vinayagar Koil 2nd lane?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 3,64,000 based on the current guideline value.

Which office handles property registrations for Salai Vinayagar Koil 2nd lane?

The Chennai North Joint I Sub Registrar Office handles property registrations for Salai Vinayagar Koil 2nd lane, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.