Guideline Value for VINAYAGAR KOVIL STREET (CHEN)

Vinayagar Kovil Street (Chen) guideline value

The current guideline value of Vinayagar Kovil Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vinayagar Kovil Street (Chen) has changed

The guideline value for Vinayagar Kovil Street (Chen) has seen several revisions over the years. In the 2012 revision, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a notable decrease of 33%. However, from 2017 to 2023, the value increased by 49%, and overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Vinayagar Kovil Street (Chen) is below this median.

• Villiyar Paint Company Road (Chen): Rs 1,320 per sq.ft (2024)
• Villa Viviana: Rs 1,540 per sq.ft (2024)
• Venkateswara Nagar (Krishna Foundation): Rs 1,100 per sq.ft (2024)
• Vandipalaiyathamman Koil Street (Chen): Rs 660 per sq.ft (2024)
• Vagrathunda Nagar (Chen): Rs 660 per sq.ft (2024)
• Thulir: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Kovil Street (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vinayagar Kovil Street (Chen)?

The Sub Registrar Office that covers Vinayagar Kovil Street (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor when registering property transactions in Sengundram - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to calculate the applicable fees and taxes, making it an essential component of the property transaction process.

Frequently asked questions

What is the current guideline value of Vinayagar Kovil Street (Chen)?

The current guideline value of Vinayagar Kovil Street (Chen) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Vinayagar Kovil Street (Chen)?

The land classification for Vinayagar Kovil Street (Chen) is Residential Class I Type - III.

What are the stamp duty and registration fees for property in Vinayagar Kovil Street (Chen)?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,400.

Which office handles registrations for Vinayagar Kovil Street (Chen)?

The Chengleput Joint II Sub Registrar Office handles registrations for Vinayagar Kovil Street (Chen), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.