Guideline Value for VINAYAGA NAGAR 2ND CROSS STREET

Vinayaga Nagar 2nd Cross Street guideline value

The current guideline value of Vinayaga Nagar 2nd Cross Street is Rs 5,500 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 - III.

How the guideline value of Vinayaga Nagar 2nd Cross Street has changed

The guideline value for Vinayaga Nagar 2nd Cross Street has seen several revisions over the years. In 2012, the value was Rs 5,000 per sq.ft, which decreased to Rs 3,350 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 5,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

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 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, placing Vinayaga Nagar 2nd Cross Street's 2024 figure above the median.

• Vinayaga Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Avenue (Near P.T.C.Quarters): Rs 3,300 per sq.ft (2024)
• Vinayaga Avenue: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaga Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vinayaga Nagar 2nd Cross Street?

The Neelankarai Sub Registrar Office covers Vinayaga Nagar 2nd Cross Street. The office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during the registration of property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is referenced to ensure that the appropriate fees are calculated based on the property's value. This helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar 2nd Cross Street?

The current guideline value of Vinayaga Nagar 2nd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 55,00,000, the total stamp duty and registration fees would be Rs 4,95,000.

Which Sub Registrar Office covers Vinayaga Nagar 2nd Cross Street?

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

What is the land classification for Vinayaga Nagar 2nd Cross Street?

Vinayaga Nagar 2nd Cross Street is classified as Residential Special Type - III, which influences its guideline value and usage regulations.