Guideline Value for VINAYAGAPURAM 2ND STREET

Vinayagapuram 2nd Street guideline value

The current guideline value of Vinayagapuram 2nd Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vinayagapuram 2nd Street has changed

The guideline value of Vinayagapuram 2nd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 5,300 per sq.ft in 2012. However, this figure decreased to Rs 3,551 per sq.ft in the 2017 revision. The 2023 revision then raised the value to Rs 5,300 per sq.ft, followed by the latest revision in 2024, which set the guideline value at Rs 5,800 per sq.ft.

In terms of percentage changes, the value increased by 9% from 2023 to 2024, and by 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 253%. Overall, from 2007 to 2024, the guideline value has increased by 287%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which is equal to the guideline value of Vinayagapuram 2nd Street.

• Vinayagapuram 1st 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 2nd 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, resulting in a total of 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vinayagapuram 2nd Street?

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

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

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

Frequently asked questions

What is the current guideline value of Vinayagapuram 2nd Street?

The current guideline value of Vinayagapuram 2nd 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 from Rs 1,500 per sq.ft in 2007 to Rs 5,800 per sq.ft in 2024, marking an overall increase of 287% over this period.

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

For a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000 and the registration fee would be Rs 1,16,000, totaling Rs 5,22,000.

Which office handles the registration for Vinayagapuram 2nd Street?

The Kodambakkam Sub Registrar Office handles the registration for Vinayagapuram 2nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value when buying property?

The guideline value is used to determine the stamp duty and registration fees during the property transaction, ensuring that the property is valued appropriately for taxation purposes.