Guideline Value for VINAYAGA AVENUE

Vinayaga Avenue guideline value

The current guideline value of Vinayaga Avenue, located in Perungudi village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Vinayaga Avenue has changed

The guideline value for Vinayaga Avenue has seen several revisions over the years. In 2002, the guideline value was Rs 120 per sq.ft, which increased to Rs 136 per sq.ft in 2003. Following this, there was a significant rise to Rs 600 per sq.ft in 2007, marking an increase of 341%. The value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a 400% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has reached Rs 3,300 per sq.ft in 2024, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 2,650%. The register has no figure for the years not mentioned in this summary.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Vinayaga Avenue.

• Vinayaga Estate Salai: Rs 3,300 per sq.ft (2024)
• Villiar Medu: Rs 1,100 per sq.ft (2024)
• Vijayendra Nagar: Rs 3,300 per sq.ft (2024)
• Vivekananthar Street: Rs 2,800 per sq.ft (2024)
• V.O.C. Street: Rs 2,800 per sq.ft (2024)
• Vembuliamman Koil 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 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 the higher of the guideline value or the sale price. You can use the 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 additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vinayaga Avenue?

The current guideline value of Vinayaga Avenue 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 significantly from Rs 120 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2,650% over this period.

What is the registration office for Vinayaga Avenue?

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.

How is stamp duty calculated for properties in Vinayaga Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.

Are there other streets with the same guideline value in Perungudi?

Yes, there are other streets in Perungudi with a guideline value of Rs 3,300 per sq.ft, including Vinayaga Estate Salai and Vijayendra Nagar.