Guideline Value for VINOBAJI STREET

Vinobaji Street guideline value

The current guideline value of Vinobaji Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vinobaji Street has changed

The guideline value for Vinobaji Street has seen several revisions over the years. In 2002, the guideline value was Rs 818 per sq.ft. This increased to Rs 899 per sq.ft in 2003, marking a rise of 10%. The value then surged significantly to Rs 1,650 per sq.ft in 2007, which was an increase of 84%. In 2012, the value was revised to Rs 5,300 per sq.ft, representing a substantial increase of 221%. However, in 2017, the value dropped to Rs 3,551 per sq.ft, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 5,800 per sq.ft, reflecting an increase of 63% from the 2017 figure. Notably, there is no figure available for the year 2023 in the register for this street.

Overall, from 2002 to 2024, the guideline value has increased by 609%. This history of revisions highlights the fluctuations in the guideline value for Vinobaji Street over the years.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, which is equal to the current value of Vinobaji Street.

• Virai Pallam: Rs 3,300 per sq.ft (2024)
• Vinayagapuram Main Road: Rs 7,100 per sq.ft (2024)
• Vinayagapuram 3rd Street: Rs 5,800 per sq.ft (2024)
• Vinayagapuram 2nd Street: Rs 5,800 per sq.ft (2024)
• Vinayagapuram 1st Street: Rs 5,800 per sq.ft (2024)
• Viswanathan Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinobaji Street?

The Sub Registrar Office that covers Vinobaji Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. This is especially important for both buyers and sellers as it affects the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vinobaji Street?

The current guideline value of Vinobaji Street is Rs 5,800 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 818 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 609% over the years.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include Virai Pallam at Rs 3,300 per sq.ft, Vinayagapuram Main Road at Rs 7,100 per sq.ft, and several others, with Vinobaji Street's value matching the median of Rs 5,800 per sq.ft.

What fees are involved when registering property in Vinobaji Street?

When registering property in Vinobaji Street, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Vinobaji Street located?

The Sub Registrar Office for Vinobaji Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.