Guideline Value for VINAYAGAR KOIL STREET

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Vinayagar Koil Street has changed

Looking at the revisions, the guideline value for Vinayagar Koil Street has seen significant changes over the years. The 2007 revision set the value at Rs 250 per sq.ft, which then surged to Rs 1,500 per sq.ft in the 2012 revision, marking a remarkable increase of 500%. The most recent revision in 2024 has raised the guideline value to Rs 1,600 per sq.ft, reflecting a 7% increase from the 2012 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with a 2024 guideline value range from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Vinayagar Koil Street's 2024 value below this median.

• Vinayagar Nagar: Rs 1,600 per sq.ft (2024)
• Vimal Nagar: Rs 1,600 per sq.ft (2024)
• Vivekananda Nagar Annex: Rs 3,300 per sq.ft (2024)
• Vivekananda Nagar Annex III: Rs 3,300 per sq.ft (2024)
• Vijay Nagar: Rs 1,600 per sq.ft (2024)
• Vivekanantha Nagar: 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayagar Koil Street?

The Sub Registrar Office that covers Vinayagar Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

When buying or selling property in Korattur, the guideline value is a crucial factor in determining the stamp duty and registration fees applicable to the transaction. The guideline value serves as a benchmark for the minimum value at which the property can be registered, ensuring that the government receives due revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value in order to accurately assess the financial implications of their property transactions. This value influences the overall cost and can impact the affordability of the property being transacted.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 250 per sq.ft to Rs 1,600 per sq.ft in 2024, marking an overall increase of 540%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers Vinayagar Koil Street?

The Villivakkam Sub Registrar Office covers Vinayagar Koil Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Vinayagar Koil Street?

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