Guideline Value for Sri Vinayaga Nagar

Sri Vinayaga Nagar guideline value

The current guideline value of Sri Vinayaga Nagar, located in Kodithandalam village under the Madurandakam SRO, is Rs 150 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Vinayaga Nagar has changed

The guideline value for Sri Vinayaga Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 150 per sq.ft in 2012. This value remained unchanged until the 2017 revision, which saw a 50% increase to Rs 100 per sq.ft. The value then returned to Rs 150 per sq.ft in 2023, and it has remained at that rate through the 2024 revision, showing no change from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 200%.

Guideline values in Kodithandalam

In Kodithandalam, there are four streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 426 per sq.ft. The median value for these streets is Rs 150 per sq.ft, which is equal to the current guideline value of Sri Vinayaga Nagar.

• Vsr Nagar: Rs 426 per sq.ft (2024)
• K.V. Nagar: Rs 150 per sq.ft (2024)
• J.B.J. Jacob Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vinayaga Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty, charged at 7%, would be Rs 10,500, while the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vinayaga Nagar?

The Madurandakam Sub Registrar Office covers Sri Vinayaga Nagar. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kodithandalam. It serves as a basis for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate fees are collected. This helps maintain transparency and compliance within the real estate market.

Frequently asked questions

What is the current guideline value of Sri Vinayaga Nagar?

The current guideline value of Sri Vinayaga Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then to Rs 100 per sq.ft in 2017, and back to Rs 150 per sq.ft in 2023 and 2024.

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

Other streets in Kodithandalam include Vsr Nagar at Rs 426 per sq.ft, K.V. Nagar at Rs 150 per sq.ft, and J.B.J. Jacob Nagar at Rs 150 per sq.ft for the year 2024.

What is the stamp duty rate for properties in Sri Vinayaga Nagar?

The stamp duty rate for properties in Sri Vinayaga Nagar is 7%, based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sri Vinayaga Nagar?

The Sub Registrar Office for Sri Vinayaga Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.