Guideline Value for VAIYALI VINAYAGAR KOIL STREET

Vaiyali Vinayagar Koil Street guideline value

The current guideline value of Vaiyali Vinayagar Koil Street is Rs 401 per sq.ft, effective from 1 July 2024. This street is located in Karunguzhi village under the Madurandakam SRO, classified as Mixed Type - I land.

How the guideline value of Vaiyali Vinayagar Koil Street has changed

The guideline value for Vaiyali Vinayagar Koil Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 60 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, but then dropped to Rs 268 per sq.ft in 2017. The value saw a substantial rise to Rs 400 per sq.ft in 2023, and finally, it is now Rs 401 per sq.ft in 2024, reflecting no change from the previous year.

In summary, the guideline value has changed as follows: from Rs 60 in 2007 to Rs 400 in 2012, then decreased to Rs 268 in 2017, and increased to Rs 400 in 2023. Overall, from 2007 to 2024, the guideline value has increased by 568%.

Guideline values in Karunguzhi

In Karunguzhi village, there are 37 streets under the Madurandakam SRO with guideline values ranging from Rs 401 to Rs 1,000 per sq.ft. The median guideline value is Rs 401 per sq.ft, which is the same as that of Vaiyali Vinayagar Koil Street for 2024.

• Valluvar Veedhi: Rs 401 per sq.ft (2024)
• Thumbhulavar Street: Rs 401 per sq.ft (2024)
• Thattara Street: Rs 401 per sq.ft (2024)
• West Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Z.N.Nagar: Rs 500 per sq.ft (2024)
• Shalom Nagar: Rs 602 per sq.ft (2024)

Stamp duty and registration fee for property in Vaiyali Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value amounts to Rs 4,01,000. The stamp duty at 7% would be Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total fees to Rs 36,090. 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 Vaiyali Vinayagar Koil Street?

The Sub Registrar Office that covers Vaiyali Vinayagar Koil Street is the Madurandakam Sub Registrar Office, 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 Karunguzhi

The guideline value plays a crucial role in the registration process when buying or selling property in Karunguzhi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government during the transaction.

When a property is sold, the guideline value is used to assess the minimum value for which the property can be registered. This ensures that the government receives the appropriate revenue from the transaction based on the established guideline value.

Frequently asked questions

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

The current guideline value of Vaiyali Vinayagar Koil Street is Rs 401 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, with various revisions in between. The most significant increase occurred from 2007 to 2012, where it rose by 567%.

What is the land classification for Vaiyali Vinayagar Koil Street?

Vaiyali Vinayagar Koil Street is classified as Mixed Type - I land. This classification can impact the types of developments permissible in the area.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. This office handles property registrations for the area, including Vaiyali Vinayagar Koil Street.

How is stamp duty calculated for properties in Karunguzhi?

Stamp duty for properties in Karunguzhi is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,01,000, the stamp duty would be 7% of that amount.