Guideline Value for Salai Vinayagar Koil street *

Salai Vinayagar Koil street * guideline value

The current guideline value of Salai Vinayagar Koil street * is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Muthialpet village and falls under the Chennai North Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Salai Vinayagar Koil street * has changed

The guideline value for Salai Vinayagar Koil street * has seen significant changes over the years. In 2002, the guideline value was Rs 1,315 per sq.ft, which increased to Rs 1,495 per sq.ft in 2003, marking a rise of 14%. The value then rose to Rs 2,000 per sq.ft in 2007, an increase of 34%. Following this, the value surged to Rs 7,000 per sq.ft in 2012, reflecting a substantial growth of 250%. However, between 2012 and 2017, the value decreased to Rs 4,690 per sq.ft, a decline of 33%. The guideline value then increased to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 486%. There are no figures available for any other revisions for this street.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing Salai Vinayagar Koil street * above this median.

• Salai Vinayagar Koil 2nd lane: Rs 5,200 per sq.ft (2024)
• Salai Vinayagar Koil 1st lane: Rs 5,200 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 street *

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty, charged at 7%, would be Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Salai Vinayagar Koil street *?

The Sub Registrar Office that covers Salai Vinayagar Koil street * is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade 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 in the registration process when buying or selling property in Muthialpet. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a value that reflects the official rates set by the government.

When engaging in a property transaction, it is essential to be aware of the guideline value as it affects the stamp duty and registration fees payable. Buyers should ensure that the sale price is not less than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Salai Vinayagar Koil street *?

The current guideline value of Salai Vinayagar Koil street * is Rs 7,700 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 1,315 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 486% over this period.

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 street * being above this median at Rs 7,700 per sq.ft.

What are the stamp duty and registration fees for a property in Salai Vinayagar Koil street *?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Salai Vinayagar Koil street *?

The registrations for Salai Vinayagar Koil street * are handled by the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplanade Street, Chennai-105.