Guideline Value for VINAYAGAR KOIL STREET (NEAR V.P.G.AVENUE)

Vinayagar Koil Street (Near V.P.G.Avenue) guideline value

The current guideline value of Vinayagar Koil Street (Near V.P.G.Avenue) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Vinayagar Koil Street (Near V.P.G.Avenue) has changed

Over the years, the guideline value of Vinayagar Koil Street has seen several revisions. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then rose again to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision reflects a modest increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Vinayagar Koil Street's 2024 figure above that median.

• Vinayagar Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayak Avenue: Rs 3,300 per sq.ft (2024)
• Vinayaga Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil Street (Near V.P.G.Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty, charged at 7%, would be Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, the total cost would be Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vinayagar Koil Street (Near V.P.G.Avenue)?

The Sub Registrar Office that covers Vinayagar Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor during property registration in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property based on the current market conditions. It is essential for buyers to be aware of these values to make informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street (Near V.P.G.Avenue) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, an increase of 11%. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification for Vinayagar Koil Street?

Vinayagar Koil Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value incurs a total cost of Rs 3,51,000 in duties and fees.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find more information about your SRO online.