Guideline Value for VINAYAGAM NAGAR

Vinayagam Nagar guideline value

The current guideline value of Vinayagam Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vinayagam Nagar has changed

The guideline value register for Vinayagam Nagar has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft. This was a significant change from the previous revisions, as the value increased to Rs 700 per sq.ft in the 2024 revision, marking a rise of 133% from 2023 to 2024.

With the 2024 revision, the guideline value aligns with the median value of Rs 700 per sq.ft for the 120 streets in Ponneri under the Ponneri SRO. This indicates that Vinayagam Nagar's value is consistent with the overall pricing trends in the area.

Guideline values in Ponneri

The guideline values in Ponneri range from Rs 201 to Rs 1,200 per sq.ft, with the median being Rs 700 per sq.ft. Vinayagam Nagar's 2024 figure matches this median. Below are other streets in Ponneri:

• Vinayaga Nagar Extension: Rs 1,200 per sq.ft (2024)
• Vinayagar Nagar: Rs 700 per sq.ft (2024)
• Vellodi Road: Rs 700 per sq.ft (2024)
• Velavan Nagar: Rs 700 per sq.ft (2024)
• Vedhagiri Mudali Street: Rs 900 per sq.ft (2024)
• Varadhappa Naicken St: Rs 1,200 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

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. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This ensures transparency and compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Vinayagam Nagar?

The current guideline value of Vinayagam Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 133% from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024.

What is the land classification of Vinayagam Nagar?

Vinayagam Nagar is classified as Residential Class II Type - I.

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

For a property valued at Rs 7,00,000, the stamp duty is Rs 49,000, and the registration fee is Rs 14,000, totaling Rs 63,000.

Which office handles property registrations in Vinayagam Nagar?

The Ponneri Sub Registrar Office handles property registrations in Vinayagam Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.