Guideline Value for VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN)

VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) guideline value

The current guideline value of VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the jurisdiction of the Manavalanagar SRO, and is classified as Commercial Class I Type - I.

How the guideline value of VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) has changed

The guideline value for VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 125 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a remarkable change of +1500%. However, by 2017, the guideline value decreased to Rs 1,340 per sq.ft, which was a reduction of -33%. The value remained stable at Rs 2,000 per sq.ft in both 2023 and 2024, indicating no change from the previous year.

Notably, there are no recorded figures for the years 2002 and 2003 for this street in the register. The overall change from the 2007 revision to the current 2024 value reflects a substantial increase of +1500%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) has a guideline value above this median.

• Vinayakar Koil Street (Ondikuppam): Rs 1,000 per sq.ft (2024)
• Viswanathan Street: Rs 800 per sq.ft (2024)
• Vivekanander Street: Rs 800 per sq.ft (2024)
• V.P.Sindhan Street: Rs 800 per sq.ft (2024)
• Velunachiyar Street: Rs 1,300 per sq.ft (2024)
• Velayutha Reddy Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN)

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 20,00,000. The stamp duty is calculated at 7%, which totals Rs 1,40,000, while the registration fee at 2% amounts to Rs 40,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN)?

The Sub Registrar Office that covers VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vengathur. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the stamp duty is levied based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN)?

The current guideline value of VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 125 per sq.ft in 2007, rising to Rs 2,000 per sq.ft in 2012, then dropping to Rs 1,340 per sq.ft in 2017, and remaining at Rs 2,000 per sq.ft in both 2023 and 2024.

What is the land classification of this street?

VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN) is classified as Commercial Class I Type - I, indicating its use for commercial purposes.

What is the stamp duty rate applicable for properties in this area?

The stamp duty rate applicable for properties in this area is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in this area?

The Manavalanagar Sub Registrar Office handles property registrations for VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN), located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.