Guideline Value for VINAYAGAR KOIL WEST STREET

Vinayagar Koil West Street guideline value

The current guideline value of Vinayagar Koil West Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vinayagar Koil West Street has changed

The guideline value for Vinayagar Koil West Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,809 per sq.ft, marking a decrease of 33%. The 2023 revision increased the value to Rs 2,700 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,970 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the guideline value of Vinayagar Koil West Street.

• Vinayagar Koil West Mada Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 10th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 11th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 12th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 13th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayagar Koil West Street?

The Sub Registrar Office that covers Vinayagar Koil West Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, reflecting the official value set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vinayagar Koil West Street?

The current guideline value of Vinayagar Koil West Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then back to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification of Vinayagar Koil West Street?

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

What are the stamp duty rates for properties in this area?

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

Where is the Sub Registrar Office located for this street?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.