Guideline Value for VINAYAGAM NAGAR

Vinayagam Nagar guideline value

The current guideline value of Vinayagam Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO and is classified as Residential Class I Type - I.

How the guideline value of Vinayagam Nagar has changed

The guideline value for Vinayagam Nagar has undergone several revisions over the years. In the 2017 revision, the guideline value was set at Rs 536 per sq.ft. This figure rose significantly to Rs 800 per sq.ft in the 2023 revision, marking an increase of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 880 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, with values ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, placing Vinayagam Nagar's 2024 figure above the median.

• Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Vijayalakshmi Nagar Ext: Rs 550 per sq.ft (2024)
• Vignesh Nagar: Rs 880 per sq.ft (2024)
• V.O.C. Street: Rs 550 per sq.ft (2024)
• V.R.B. Nagar: Rs 550 per sq.ft (2024)
• Venkata Reddi Palayam: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayagam Nagar?

The Sub Registrar Office that covers Vinayagam Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, Chennai registration zone. You can find your SRO for more details.

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

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

Frequently asked questions

What is the current guideline value of Vinayagam Nagar?

The current guideline value of Vinayagam Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for property in Vinayagam Nagar?

For a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Vinayagam Nagar?

The Ponneri Sub Registrar Office covers Vinayagam Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Vinayagam Nagar?

Vinayagam Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.