Guideline Value for VINAYAGAPURAM IST STREET

Vinayagapuram Ist Street guideline value

The current guideline value of Vinayagapuram Ist Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Special Type - III.

How the guideline value of Vinayagapuram Ist Street has changed

The guideline value for Vinayagapuram Ist Street has seen several revisions over the years. In the 2003 revision, the value was Rs 828 per sq.ft, which increased to Rs 1,300 per sq.ft in 2007, marking a significant rise of 57%. The value then surged to Rs 5,000 per sq.ft in 2012, reflecting a remarkable increase of 285%. However, it dropped to Rs 3,350 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 5,000 per sq.ft in 2023, and further increased to the current rate of Rs 5,500 per sq.ft in 2024, showing a 10% rise.

The register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 564%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Vinayagapuram Ist Street's current value below this median.

• Vinayagapuram Main Road: Rs 7,700 per sq.ft (2024)
• Visalakshi Street: Rs 5,000 per sq.ft (2024)
• Vivekanandar Street: Rs 6,000 per sq.ft (2024)
• Water Tank Road Cross Street: Rs 7,500 per sq.ft (2024)
• West College Road: Rs 6,000 per sq.ft (2024)
• West Kamarajar Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagapuram Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. 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 details.

Which Sub Registrar Office covers Vinayagapuram Ist Street?

The Sub Registrar Office covering Vinayagapuram Ist 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 Arumbakkam

The guideline value is a crucial factor during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the buying and selling process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vinayagapuram Ist Street?

The current guideline value of Vinayagapuram Ist Street is Rs 5,500 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 828 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 564% over this period.

What is the land classification for Vinayagapuram Ist Street?

Vinayagapuram Ist Street is classified as Residential Special Type - III.

What are the stamp duty rates for properties in this area?

The stamp duty for properties is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.