Guideline Value for VINAYAGAR KOIL STREET

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vinayagar Koil Street has changed

The guideline value for Vinayagar Koil Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the period from 2012 to 2017 saw a decrease of 33%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median value is Rs 1,700 per sq.ft, placing Vinayagar Koil Street's 2024 figure above this median.

• Village High Road: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi Garden: Rs 1,100 per sq.ft (2024)
• V.G.P.Part III: Rs 5,500 per sq.ft (2024)
• V.G.P.Part II: Rs 5,500 per sq.ft (2024)
• V.G.P.Part I: Rs 5,500 per sq.ft (2024)
• V.G.P.Layout Part II Main Road: Rs 5,000 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vinayagar Koil Street?

The Sub Registrar Office covering 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 Uthandi

The guideline value plays a crucial role in the registration process of property transactions in Uthandi. When buying or selling property, the guideline value is utilized to determine the applicable stamp duty and registration fees, ensuring transparency and consistency in property transactions.

During registration, the stamp duty is calculated based on the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the property's worth as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Vinayagar Koil Street?

Vinayagar Koil Street is classified as Residential Class II Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Uthandi?

Stamp duty for properties in Uthandi is calculated based on the higher of the guideline value or the sale price. This ensures that the applicable fees reflect the property's value accurately during registration.