Guideline Value for VINAYAGAPURAM

Vinayagapuram guideline value

The current guideline value of Vinayagapuram is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Vinayagapuram has changed

The guideline value for Vinayagapuram has seen several revisions over the years. The earliest figure available is from 2002, with a guideline value of Rs 119 per sq.ft. This increased to Rs 141 per sq.ft in 2003, marking an 18% rise. Subsequently, the value surged to Rs 600 per sq.ft in 2007, reflecting a significant increase of 326%. The value then rose to Rs 2,600 per sq.ft in 2012, a change of 333%. However, it decreased to Rs 1,742 per sq.ft in 2017, which was a decline of 33% before climbing back to Rs 2,600 per sq.ft in 2023, an increase of 49%. The current guideline value is now Rs 2,800 per sq.ft as of the 2024 revision, showing an 8% increase from the previous year.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO, with guideline values ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Vinayagapuram's 2024 figure below this median.

• Village Street: Rs 3,700 per sq.ft (2024)
• Vivekanandan Street: Rs 3,700 per sq.ft (2024)
• V.O.C. Nagar: Rs 1,900 per sq.ft (2024)
• Verkadalai Cheri: Rs 2,150 per sq.ft (2024)
• West Kulakkarai Street: Rs 3,700 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vinayagapuram?

The Sub Registrar Office that covers Vinayagapuram is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value may differ from the actual sale price.

When registering a property, the authorities will calculate the fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vinayagapuram?

The current guideline value of Vinayagapuram is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 119 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 2,253% over the years.

What is the stamp duty rate for property transactions in Vinayagapuram?

The stamp duty rate for property transactions in Vinayagapuram is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vinayagapuram?

The Sub Registrar Office for Vinayagapuram is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How do I calculate the registration fees for a property in Vinayagapuram?

To calculate the registration fees, you can use the guideline value to determine the total amount based on the size of the property. The registration fee is typically 2% of the guideline value.