Guideline Value for VINAYAGAR NAGAR

Vinayagar Nagar guideline value

The current guideline value for Vinayagar Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Vinayagar Nagar has changed

The guideline value for Vinayagar Nagar has undergone several revisions over the years. The earliest recorded figure was Rs 250 per sq.ft in 2007. This saw a significant increase to Rs 1,500 per sq.ft in 2012, marking a change of +500%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, reflecting an increase of +7% from the 2012 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2017, and 2023 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 that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for Vinayagar Nagar is below this median.

• Vinayagar Koil Street: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to 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. 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 further calculations.

Which Sub Registrar Office covers Vinayagar Nagar?

The Sub Registrar Office that covers Vinayagar Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees that must be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is registered at a fair value as determined by the authorities. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vinayagar Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, and then to Rs 1,600 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2017, and 2023.

What is the land classification of Vinayagar Nagar?

Vinayagar Nagar is classified as Residential Class III Type - III. This classification is important for determining the use and development of the land.

What are the stamp duty rates in Vinayagar Nagar?

The stamp duty rate in Vinayagar Nagar is 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where is the Sub Registrar Office for Vinayagar Nagar located?

The Sub Registrar Office for Vinayagar Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.