Guideline Value for VINAYAGAM AVENUE PHASE - I

Vinayagam Avenue Phase - I guideline value

The current guideline value of Vinayagam Avenue Phase - I is Rs 2,630 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village under the Kunrathur SRO, and it falls under the land classification of Residential Special Type - IV.

How the guideline value of Vinayagam Avenue Phase - I has changed

The guideline value for Vinayagam Avenue Phase - I has seen significant changes over the years. In 2017, the guideline value was Rs 1,600 per sq.ft. This increased to Rs 2,389 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,630 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, making the guideline value of Vinayagam Avenue Phase - I above that median.

• Vinayaga Avenue Phase II: Rs 1,540 per sq.ft (2024)
• Vinayagar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Vishal Nagar: Rs 1,540 per sq.ft (2024)
• Vishal Nagar Annexe: Rs 1,540 per sq.ft (2024)
• Vishal Nagar Phase I: Rs 1,540 per sq.ft (2024)
• Vigneshwara Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagam Avenue Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,630 per sq.ft, the total guideline value would be Rs 26,30,000. The stamp duty at 7% would be Rs 1,84,100, and the registration fee at 2% would be Rs 52,600, bringing the total to Rs 2,36,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayagam Avenue Phase - I?

The Sub Registrar Office that covers Vinayagam Avenue Phase - I is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value is a crucial factor in the registration process of property transactions in Kunrathour-B. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Vinayagam Avenue Phase - I?

The current guideline value of Vinayagam Avenue Phase - I is Rs 2,630 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,600 per sq.ft to Rs 2,630 per sq.ft in 2024, reflecting an overall increase of 64%.

What are the guideline values for other streets in Kunrathour-B?

Other streets in Kunrathour-B have guideline values ranging from Rs 660 to Rs 5,130 per sq.ft, with a median value of Rs 1,540 per sq.ft. Vinayagam Avenue Phase - I is above this median.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions is 7% of the guideline value or the sale price, whichever is higher.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Kunrathur Sub Registrar Office at No.59, Road Street, Kundrathur, Chennai -600 069, or by using the online tool to find your SRO.