Guideline Value for Salai Vinayagar Koil Street (G.S.T.Road)

Salai Vinayagar Koil Street (G.S.T.Road) guideline value

The current guideline value of Salai Vinayagar Koil Street (G.S.T.Road) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Salai Vinayagar Koil Street (G.S.T.Road) has changed

The guideline value for Salai Vinayagar Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 868 per sq.ft, which increased to Rs 1,085 per sq.ft in 2003. Following that, there was a decrease to Rs 800 per sq.ft in 2007, before a significant rise to Rs 5,000 per sq.ft in 2012. The value then dropped to Rs 3,350 per sq.ft in 2017, and subsequently increased to Rs 5,000 per sq.ft in the 2023 revision. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. The most notable change occurred between 2007 and 2012, where the value surged by 525%. Overall, from 2002 to 2024, the guideline value has increased by 534%.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, making Salai Vinayagar Koil Street's 2024 figure of Rs 5,500 per sq.ft significantly above this median.

• Saint Patrick Church Road: Rs 4,400 per sq.ft (2024)
• Saint Patrick Church 1 to 5 Street: Rs 4,400 per sq.ft (2024)
• Sain Thomas Mount Road: Rs 4,400 per sq.ft (2024)
• Sanniyasi Subedhar Street: Rs 3,850 per sq.ft (2024)
• Ruthra Road: Rs 3,300 per sq.ft (2024)
• Sathik Basha Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Salai Vinayagar Koil Street (G.S.T.Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Salai Vinayagar Koil Street (G.S.T.Road)?

The Sub Registrar Office that covers Salai Vinayagar Koil Street (G.S.T.Road) is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Parangimalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Salai Vinayagar Koil Street?

The current guideline value of Salai Vinayagar Koil Street (G.S.T.Road) is Rs 5,500 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 868 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 534% over the years.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, which is lower than the current guideline value of Salai Vinayagar Koil Street.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find the Sub Registrar Office for Salai Vinayagar Koil Street?

The Sub Registrar Office for Salai Vinayagar Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.