Guideline Value for VINAYAKAR KOIL STREET (PILLAIYAR KOIL STREET)

Vinayakar Koil Street (Pillaiyar Koil Street) guideline value

The current guideline value of Vinayakar Koil Street (Pillaiyar Koil Street) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vinayakar Koil Street (Pillaiyar Koil Street) has changed

Since the 2003 revision, the guideline value for Vinayakar Koil Street has seen significant changes. In 2003, the value was Rs 112 per sq.ft. It increased to Rs 500 per sq.ft in 2007, marking a notable rise of 346%. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a substantial increase of 400%. However, it decreased to Rs 1,675 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft as of the 2024 revision, representing a 12% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2400%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, and Vinayakar Koil Street's 2024 figure is above this median.

• Vimala Garden: Rs 3,900 per sq.ft (2024)
• Vivekanandar Street: Rs 2,800 per sq.ft (2024)
• V.K.Salai Cross: Rs 1,100 per sq.ft (2024)
• V.O.C.Nagar: Rs 2,200 per sq.ft (2024)
• V.O.C Street: Rs 2,200 per sq.ft (2024)
• V.G.P.Lay Out Part I & II & III: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayakar Koil Street (Pillaiyar Koil Street)

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, leading to a total of Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayakar Koil Street (Pillaiyar Koil Street)?

The Sub Registrar Office covering Vinayakar Koil Street (Pillaiyar Koil Street) 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 further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions while providing transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Vinayakar Koil Street?

The current guideline value of Vinayakar Koil Street (Pillaiyar Koil Street) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 112 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with various increments and decrements in between.

What is the median guideline value in Enjambakkam?

The median guideline value for streets in Enjambakkam is Rs 2,200 per sq.ft, with Vinayakar Koil Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,52,000.

Where is the Neelankarai Sub Registrar Office located?

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