Guideline Value for VINAYAGA AVENUE (NEAR P.T.C.QUARTERS)

Vinayaga Avenue (Near P.T.C.Quarters) guideline value

The current guideline value of Vinayaga Avenue (Near P.T.C.Quarters) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Vinayaga Avenue (Near P.T.C.Quarters) has changed

The guideline value for Vinayaga Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,300 per sq.ft. The changes between these revisions include a decrease of 33% from 2012 to 2017, followed by a significant increase of 49% from 2017 to 2023, and a 10% increase from 2023 to 2024.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with 2024 figures ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median of Rs 3,300 per sq.ft. The guideline value for Vinayaga Avenue is equal to this median.

• Vinayaga Avenue: Rs 6,600 per sq.ft (2024)
• Vinayaga Nagar: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaga Avenue (Near P.T.C.Quarters)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on either the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayaga Avenue (Near P.T.C.Quarters)?

The Neelankarai Sub Registrar Office covers Vinayaga Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This means that both buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the property transaction.

Frequently asked questions

What is the current guideline value of Vinayaga Avenue?

The current guideline value of Vinayaga Avenue (Near P.T.C.Quarters) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017, which was a 49% increase from the previous revision.

What is the land classification of Vinayaga Avenue?

Vinayaga Avenue is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Vinayaga Avenue?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Vinayaga Avenue?

The Neelankarai Sub Registrar Office is responsible for handling registrations for Vinayaga Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.