Guideline Value for VINAYAGA AVENUE

Vinayaga Avenue guideline value

The current guideline value of Vinayaga Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - I.

How the guideline value of Vinayaga Avenue has changed

The guideline value for Vinayaga Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 6,000 per sq.ft, which then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value increased significantly to Rs 6,000 per sq.ft in 2023, and further rose to Rs 6,600 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

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

• Vinayaga Avenue (Near P.T.C.Quarters): Rs 3,300 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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, making the total charges Rs 5,94,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayaga Avenue?

The Sub Registrar Office that covers Vinayaga Avenue is the Neelankarai Sub Registrar Office, 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 is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It helps determine the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the total costs involved in the property transaction.

When registering a property, the guideline value serves as a benchmark for the sale price, ensuring that the transaction is recorded accurately. This value is essential for both parties to understand the financial implications of the sale and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vinayaga Avenue?

The current guideline value of Vinayaga Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,600 per sq.ft in 2024.

What is the land classification for Vinayaga Avenue?

Vinayaga Avenue is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

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

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.