Guideline Value for VINAYAGAR KOIL CROSS STREET

Vinayagar Koil Cross Street guideline value

The current guideline value of Vinayagar Koil Cross Street is Rs 3,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Vinayagar Koil Cross Street has changed

The guideline value for Vinayagar Koil Cross Street has seen significant changes over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003. A further rise occurred in 2007, bringing the value to Rs 500 per sq.ft. After a substantial increase, the value reached Rs 3,000 per sq.ft in 2023, and it has now risen to Rs 3,200 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

Notably, there are no figures available for the revisions in 2012 and 2017. The overall increase from 2002 to 2024 is an impressive 852%, demonstrating the significant changes in the guideline value over the years.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Vinayagar Koil Cross Street stands above this median.

• Vinayagar Koil Lane: Rs 3,200 per sq.ft (2024)
• Vinayagar Koil Street: Rs 3,200 per sq.ft (2024)
• V.O.C Nagar 1st Lane: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 2nd Lane: Rs 2,200 per sq.ft (2024)
• V.O.C Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value would be Rs 32,00,000. The stamp duty at 7% would amount to Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vinayagar Koil Cross Street?

The Sub Registrar Office that covers Vinayagar Koil Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the sale process.

When a property is sold, the registration office uses the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are documented accurately and reflect the current market conditions as defined by the guideline values.

Frequently asked questions

What is the current guideline value for Vinayagar Koil Cross Street?

The current guideline value for Vinayagar Koil Cross Street is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 336 per sq.ft in 2002 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 852% over the years.

What are the other streets in Perambur with similar guideline values?

Other streets in Perambur with similar guideline values include Vinayagar Koil Lane and Vinayagar Koil Street, both at Rs 3,200 per sq.ft for 2024.

What is the stamp duty rate for properties in Vinayagar Koil Cross Street?

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

Where can I find the Sub Registrar Office for Vinayagar Koil Cross Street?

The Sub Registrar Office for Vinayagar Koil Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.