Guideline Value for VINOBA NAGAR

Vinoba Nagar guideline value

The current guideline value of Vinoba Nagar, located in Chitthalapakkam village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Vinoba Nagar has changed

The guideline value for Vinoba Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 2,700 per sq.ft.

Notably, the changes between revisions reflect a significant increase from 2017 to 2023, with a rise of 49%. The transition from 2023 to 2024 shows an increase of 8%. Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8% in the guideline value.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, making the guideline value of Vinoba Nagar below the median.

• V.I.P. Avenue: Rs 2,900 per sq.ft (2024)
• V.I.P Avenue Extension: Rs 2,900 per sq.ft (2024)
• Vijay Avenue Extension: Rs 2,900 per sq.ft (2024)
• Vijay Avenue 4th Street: Rs 1,900 per sq.ft (2024)
• Vijay Avenue: Rs 2,900 per sq.ft (2024)
• Vijayapuram Extension: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vinoba Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

To calculate your own fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinoba Nagar?

The Sub Registrar Office that covers Vinoba Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Chitthalapakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is necessary to comply with registration requirements.

Frequently asked questions

What is the current guideline value of Vinoba Nagar?

The current guideline value of Vinoba Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Vinoba Nagar?

The land classification for Vinoba Nagar is Residential Special Type - I.

What are the stamp duty and registration fees for properties in Vinoba Nagar?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Vinoba Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.