Guideline Value for VINAYAGAR KOIL LANE

Vinayagar Koil Lane guideline value

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

How the guideline value of Vinayagar Koil Lane has changed

The guideline value for Vinayagar Koil Lane has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 500 per sq.ft. This figure increased to Rs 3,000 per sq.ft in the 2023 revision, marking a substantial rise of 500%. The most recent revision in 2024 set the guideline value at Rs 3,200 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%.

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. The median value for these streets is Rs 2,700 per sq.ft, placing Vinayagar Koil Lane's 2024 figure above this median.

• Vinayagar Koil Cross Street: 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 Lane

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, totaling Rs 2,88,000. It is essential 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 Vinayagar Koil Lane?

The Sub Registrar Office that covers Vinayagar Koil Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the actual sale price. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Lane?

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

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 500 per sq.ft to Rs 3,200 per sq.ft in 2024, representing an overall increase of 540%.

What is the median guideline value for streets in Perambur?

The median guideline value for streets in Perambur is Rs 2,700 per sq.ft, with Vinayagar Koil Lane's value above this median.

What are the stamp duty and registration fees for a property in Vinayagar Koil Lane?

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which office handles property registration for Vinayagar Koil Lane?

The Purasaivakkam Sub Registrar Office handles property registration for Vinayagar Koil Lane, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.