Guideline Value for VINAYAGAR KOIL STREET

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 3,300 per sq.ft. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is 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 experienced several revisions. The earliest recorded figure is from 2002, which was Rs 642 per sq.ft. This increased to Rs 739 per sq.ft in 2003, marking a change of +15%. In 2007, the value rose significantly to Rs 1,100 per sq.ft, reflecting a +49% change. The 2012 revision saw a notable increase to Rs 3,000 per sq.ft, which was a +173% change from the previous figure. However, in 2017, the value dropped to Rs 2,010 per sq.ft, indicating a decrease of -33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, showing a +49% change. Finally, the current revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a +10% increase from 2023.

There are no figures available for the revisions prior to 2002 or for any years not listed in the register.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current figure for Vinayagar Koil Street.

• Visaka Garden Street: Rs 4,400 per sq.ft (2024)
• Vijayarangam Chetty Street: Rs 3,300 per sq.ft (2024)
• Vijayaragavalu Chetty Street: Rs 3,300 per sq.ft (2024)
• West Jones Road: Rs 8,250 per sq.ft (2024)
• West Mambalam Karunanithi Cross Street: Rs 2,750 per sq.ft (2024)
• Venugopal Chetty Street: Rs 3,300 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 guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty is charged at 7%, amounting to Rs 2,31,000, and the registration fee at 2% totals Rs 66,000. Therefore, the total amount for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayagar Koil Street?

The Sub Registrar Office that covers Vinayagar Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and is periodically revised based on various factors.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street is Rs 3,300 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has increased from Rs 642 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of +414%.

What are the stamp duty rates for properties in Vinayagar Koil Street?

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

Where can I find more information about the Sub Registrar Office?

The Chennai South Joint I Sub Registrar Office covers Vinayagar Koil Street, and you can find more information at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Vinayagar Koil Street?

The land classification for Vinayagar Koil Street is Residential Class III Type - I.