Guideline Value for Sri Vinayagar Nagar

Sri Vinayagar Nagar guideline value

The current guideline value of Sri Vinayagar Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is located in Menambedu village under the Ambattur SRO and is classified as Residential Class V Type - I.

How the guideline value of Sri Vinayagar Nagar has changed

The guideline value for Sri Vinayagar Nagar has seen several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 113%, raising the value to Rs 1,000 per sq.ft. The latest revision in 2024 has set the guideline value at Rs 1,002 per sq.ft, showing no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 43% from 2012 to 2024.

Guideline values in Menambedu

In Menambedu village, there are 171 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median value is Rs 1,003 per sq.ft, making the guideline value for Sri Vinayagar Nagar slightly below this median.

• Station Road: Rs 1,700 per sq.ft (2024)
• Sri sastha Nagar: Rs 1,002 per sq.ft (2024)
• Subramaniyam Street: Rs 1,300 per sq.ft (2024)
• Sundaram Street: Rs 1,700 per sq.ft (2024)
• Sri Raja Rajaeswari Nagar: Rs 1,002 per sq.ft (2024)
• Sundarrajan Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value would be Rs 10,02,000. The stamp duty at 7% would amount to Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total charges to Rs 90,180. It is important to note that 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 Vinayagar Nagar?

The Sub Registrar Office that covers Sri Vinayagar Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Menambedu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property rather than the sale price.

When buying or selling property, the guideline value helps determine the legal obligations regarding registration and taxes. Buyers should be aware that the government uses this value to assess the appropriate fees, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Vinayagar Nagar?

The current guideline value of Sri Vinayagar Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,002 per sq.ft in 2024.

What is the land classification of Sri Vinayagar Nagar?

Sri Vinayagar Nagar is classified as Residential Class V Type - I.

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

The Sub Registrar Office for Sri Vinayagar Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the stamp duty for property in Sri Vinayagar Nagar?

The stamp duty for a property in Sri Vinayagar Nagar is 7% of the guideline value, which would amount to Rs 70,140 for a 1,000 sq.ft plot at the current rate.