Guideline Value for VINAYAGAPURAM 1ST STREET

Vinayagapuram 1st Street guideline value

The current guideline value of Vinayagapuram 1st Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vinayagapuram 1st Street has changed

The guideline value for Vinayagapuram 1st Street has undergone several revisions over the years. In 2003, the value was Rs 757 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007, marking a rise of 98%. The subsequent revision in 2012 saw a significant increase to Rs 5,300 per sq.ft, reflecting a growth of 253%. However, the value dropped to Rs 3,551 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 5,800 per sq.ft, an increase of 63% from the previous figure.

It is important to note that there are no figures available for the years 2023 and 2002 for Vinayagapuram 1st Street in the register. Overall, from 2003 to 2024, the guideline value has increased by 666%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, which is equal to the guideline value of Vinayagapuram 1st Street.

• Vinayagapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Vinayagapuram 3rd Street: Rs 5,800 per sq.ft (2024)
• Vinayagapuram Main Road: Rs 7,100 per sq.ft (2024)
• Vinobaji Street: Rs 5,800 per sq.ft (2024)
• Virai Pallam: Rs 3,300 per sq.ft (2024)
• Viswanathan Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value amounts to Rs 58,00,000. The stamp duty at 7% would be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total cost to Rs 5,22,000. 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 detailed calculations.

Which Sub Registrar Office covers Vinayagapuram 1st Street?

The Sub Registrar Office that covers Vinayagapuram 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Puliyur, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When engaging in property transactions, it is essential to consider the guideline value to avoid any legal complications. Buyers and sellers should be aware of the current rates and ensure that their agreements reflect the guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Vinayagapuram 1st Street?

The current guideline value of Vinayagapuram 1st Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 757 per sq.ft in 2003 to Rs 5,800 per sq.ft in 2024, representing an overall increase of 666% over this period.

What is the land classification of Vinayagapuram 1st Street?

Vinayagapuram 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total cost would be Rs 5,22,000.

Which office handles property registrations for Vinayagapuram 1st Street?

The Kodambakkam Sub Registrar Office handles property registrations for Vinayagapuram 1st Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.