Guideline Value for VINAYAGAR NAGAR

Vinayagar Nagar guideline value

The current guideline value of Vinayagar Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village under the Ponneri SRO and is classified as Residential Class II Type - I.

How the guideline value of Vinayagar Nagar has changed

The guideline value for Vinayagar Nagar has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft, which increased to Rs 700 per sq.ft in the 2024 revision, marking a significant change of +133%.

With the 2024 revision, the guideline value of Rs 700 per sq.ft aligns with the median value of other streets in Ponneri, which ranges from Rs 201 to Rs 1,200 per sq.ft. This indicates a notable adjustment in the valuation of properties in this area.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that have a 2024 guideline value. The range of values spans from Rs 201 to Rs 1,200 per sq.ft, with the median being Rs 700 per sq.ft, which is the same as the guideline value for Vinayagar Nagar. Below are the guideline values for other streets in Ponneri:

• Vinayaga Nagar Extension: Rs 1,200 per sq.ft (2024)
• Vinayagam Nagar: Rs 700 per sq.ft (2024)
• Vellodi Road: Rs 700 per sq.ft (2024)
• Velavan Nagar: Rs 700 per sq.ft (2024)
• Vedhagiri Mudali Street: Rs 900 per sq.ft (2024)
• Varadhappa Naicken St: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty, charged at 7%, would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayagar Nagar?

The Sub Registrar Office that covers Vinayagar Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ponneri. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government collects appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the official valuation of the property. Buyers and sellers must consider this value to ensure compliance with legal and financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vinayagar Nagar?

The current guideline value of Vinayagar Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, which is a change of +133%.

What land classification is Vinayagar Nagar?

Vinayagar Nagar is classified as Residential Class II Type - I.

What are the registration fees for property transactions in Vinayagar Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vinayagar Nagar located?

The Sub Registrar Office for Vinayagar Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.