Guideline Value for VINAYAK AVENUE

Vinayak Avenue guideline value

The current guideline value of Vinayak Avenue in Okkiyamthuraipakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Vinayak Avenue has changed

The guideline value for Vinayak Avenue has seen several revisions over the years. In 2003, the guideline value was Rs 156 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007. This was followed by a substantial rise to Rs 3,000 per sq.ft in 2012, marking a 275% increase from the previous figure. However, the value then decreased to Rs 2,010 per sq.ft in 2017, reflecting a drop of 33%. The value climbed again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2015%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Vinayak Avenue.

• Vinayagar Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayagar Koil Street (Near V.P.G.Avenue): Rs 3,900 per sq.ft (2024)
• Vinayaga Nagar 4th Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 2nd Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayaga Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayak Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Vinayak Avenue?

The Sub Registrar Office that covers Vinayak Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded fairly and transparently.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Vinayak Avenue?

The current guideline value of Vinayak Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 156 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 2015% over the years.

What are the stamp duty rates for property in Vinayak Avenue?

The stamp duty rate for property transactions in Vinayak Avenue is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Vinayak Avenue?

The Neelankarai Sub Registrar Office handles registrations for Vinayak Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, which matches the current guideline value of Vinayak Avenue.