Guideline Value for VINAYAGA NAGAR 4TH CROSS STREET

Vinayaga Nagar 4th Cross Street guideline value

The current guideline value of Vinayaga Nagar 4th 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 it falls under the Residential Special Type - III land classification.

How the guideline value of Vinayaga Nagar 4th Cross Street has changed

The guideline value for Vinayaga Nagar 4th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 5,000 per sq.ft. This figure then dropped to Rs 3,350 per sq.ft in 2017, representing a decrease of 33%. However, the value increased significantly to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value to Rs 5,000 per sq.ft. Overall, from 2012 to 2024, 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 Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry 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. Vinayaga Nagar 4th Cross Street's guideline value is above this median.

• Vinayaga Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar: 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 4th 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 would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that 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 Nagar 4th Cross Street?

The Sub Registrar Office that covers Vinayaga Nagar 4th Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately. Buyers should be aware that the higher of the guideline value and the sale price will be used for calculating these fees.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar 4th Cross Street?

The current guideline value of Vinayaga Nagar 4th Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed 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 increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Vinayaga Nagar 4th Cross Street?

Vinayaga Nagar 4th Cross Street falls under the Residential Special Type - III land classification.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Vinayaga Nagar 4th Cross Street's value being above this median.

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.