Guideline Value for VINAYAGAR KOIL STREET

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madurabakkam village under the Selaiyur SRO, classified as Residential Class III Type - I.

How the guideline value of Vinayagar Koil Street has changed

Over the years, the guideline value of Vinayagar Koil Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was reduced to Rs 670 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 1,000 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

The register has no figure for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median value of Rs 1,600 per sq.ft. Vinayagar Koil Street's 2024 figure is below this median.

• V.G.P.Babu Nagar: Rs 1,100 per sq.ft (2024)
• Vembuli Amman Street: Rs 1,100 per sq.ft (2024)
• Vedhagiri Nagar: Rs 2,200 per sq.ft (2024)
• Silver Crest: Rs 1,700 per sq.ft (2024)
• Shankar Nagar: Rs 1,300 per sq.ft (2024)
• Sarojini Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vinayagar Koil Street?

The Sub Registrar Office that covers Vinayagar Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madurabakkam. It is used to determine the amount of stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is assessed to ensure that the transaction is in accordance with the prevailing rates. This helps maintain transparency and ensures that the government collects the appropriate taxes from property transactions.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Madurabakkam?

The median guideline value in Madurabakkam is Rs 1,600 per sq.ft, with Vinayagar Koil Street's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in Vinayagar Koil Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 99,000, based on the current guideline value of Rs 1,100 per sq.ft.

Which office handles property registrations for Vinayagar Koil Street?

The Selaiyur Sub Registrar Office handles property registrations for Vinayagar Koil Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.