Guideline Value for Sri Vinayaga Nagar

Sri Vinayaga Nagar guideline value

The current guideline value of Sri Vinayaga Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Ponthoor village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - I.

How the guideline value of Sri Vinayaga Nagar has changed

Over the years, the guideline value for Sri Vinayaga Nagar has seen several revisions. The earliest recorded value was Rs 60 per sq.ft in 2007, which increased significantly to Rs 300 per sq.ft in 2012. Following that, the value decreased to Rs 201 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 300 per sq.ft, showing no change from the previous year.

In terms of percentage changes, from 2007 to 2012, there was a remarkable increase of 400%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and again remained unchanged from 2023 to 2024. Overall, the guideline value has increased by 400% from 2007 to 2024. The register has no figures for this street in 2002 and 2003.

Guideline values in Ponthoor

Ponthoor village has a total of 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,239 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which is the same as the current value for Sri Vinayaga Nagar.

• Sri Vishnu Nagar: Rs 600 per sq.ft (2024)
• Sterling Gateway: Rs 750 per sq.ft (2024)
• Subasree Nagar: Rs 300 per sq.ft (2024)
• Suriya Gandhi Poo Street: Rs 300 per sq.ft (2024)
• Sri Ram Nagar: Rs 300 per sq.ft (2024)
• Sriperumpudur Chengalpattu Road: Rs 700 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 guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. 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 Sri Vinayaga Nagar?

The Sri Vinayaga Nagar area falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Ponthoor. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider this value as it directly impacts the overall cost of the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Vinayaga Nagar?

The current guideline value of Sri Vinayaga Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most significant increase occurring from Rs 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012. The value has remained at Rs 300 per sq.ft since 2023.

What is the land classification of Sri Vinayaga Nagar?

Sri Vinayaga Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office covering Sri Vinayaga Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Vinayaga Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.