Guideline Value for VINAYAGAPURAM

Vinayagapuram guideline value

The current guideline value of Vinayagapuram is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Nerkundram village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this region is Residential Class IV Type - I.

How the guideline value of Vinayagapuram has changed

The guideline value for Vinayagapuram has seen several revisions over the years. In 2002, the guideline value was Rs 119 per sq.ft, which increased to Rs 132 per sq.ft in 2003, marking an 11% rise. The value then jumped significantly to Rs 300 per sq.ft in 2007, reflecting a 127% increase. By 2012, the value had risen to Rs 2,000 per sq.ft, showing a remarkable 567% increase from the previous revision. However, it dropped to Rs 1,340 per sq.ft in 2017, indicating a decrease of 33%.

In 2023, the guideline value was Rs 2,000 per sq.ft, which saw an increase of 10% to reach the current value of Rs 2,200 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1,749%.

Guideline values in Nerkundram

Nerkundram village has 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current value for Vinayagapuram.

• V.S.P Nagar: Rs 2,200 per sq.ft (2024)
• Velan Nagar: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar Extension: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 9th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 8th Street: Rs 2,750 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayagapuram?

The Sub Registrar Office that covers Vinayagapuram is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value ensures that the transaction is recorded at a price that reflects the current market conditions. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vinayagapuram?

The current guideline value of Vinayagapuram is Rs 2,200 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 119 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1,749% over this period.

What is the stamp duty rate for properties in Vinayagapuram?

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

Where is the Sub Registrar Office for Vinayagapuram located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the other streets in Nerkundram and their guideline values?

Other streets in Nerkundram include V.S.P Nagar, Velan Nagar, Valliammai Nagar Main Road, Valliammai Nagar Extension, Valliammai Nagar 9th Street, and Valliammai Nagar 8th Street, with guideline values ranging from Rs 2,200 to Rs 2,750 per sq.ft.