Guideline Value for VINAYAGA AVENUE

Vinayaga Avenue guideline value

The current guideline value of Vinayaga Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village under the Chennai South Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Vinayaga Avenue has changed

The guideline value for Vinayaga Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased by 33% to Rs 1,340 per sq.ft in the 2017 revision. However, the 2023 revision increased it to Rs 2,000 per sq.ft, and the latest 2024 revision raised it further by 10% to Rs 2,200 per sq.ft.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Vinayaga Avenue.

• V.G.N. Nagar Main Road: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar Ist Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• V.G.N. Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaga Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vinayaga Avenue?

The Sub Registrar Office covering Vinayaga Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Iyyappanthangal. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps establish a fair transaction price, as it reflects the official valuation of the property. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Vinayaga Avenue?

The current guideline value of Vinayaga Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vinayaga Avenue?

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

Where can I find the registration office for Vinayaga Avenue?

The registration office for Vinayaga Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Vinayaga Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.