Guideline Value for VINVELI NAGAR

Vinveli Nagar guideline value

The current guideline value of Vinveli Nagar, located in Ottiyampakkam village under the Selaiyur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

How the guideline value of Vinveli Nagar has changed

The guideline value for Vinveli Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, which is an increase from Rs 1,460 per sq.ft in 2023. Notably, the guideline value remained unchanged at Rs 1,460 per sq.ft from 2017 to 2023. Overall, from 2017 to 2024, there has been a 10% increase in the guideline value.

Prior to the 2024 revision, the last recorded figure was Rs 1,460 per sq.ft in 2017. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, the only significant changes noted are between the 2017, 2023, and 2024 revisions.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft, with a median value of Rs 1,950 per sq.ft. Vinveli Nagar's 2024 guideline value of Rs 1,600 per sq.ft is below this median.

• Zed Ria Phase-I: Rs 2,200 per sq.ft (2024)
• Veerapandia Kottapomman Street: Rs 1,950 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,950 per sq.ft (2024)
• Thangarajapuram: Rs 1,950 per sq.ft (2024)
• Tellus Avenue Phase-II: Rs 3,200 per sq.ft (2024)
• Tellus Avenue: Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vinveli Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vinveli Nagar?

The Sub Registrar Office that covers Vinveli 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 Ottiyampakkam

The guideline value plays a crucial role during property transactions in Ottiyampakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the Registration Department and reflects the minimum value at which properties can be registered.

When selling property, the guideline value ensures that the transaction is recorded at a value that is recognized by the government, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Vinveli Nagar?

The current guideline value of Vinveli Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,460 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, marking a 10% increase. There was no change in the value from 2017 to 2023.

What is the land classification of Vinveli Nagar?

Vinveli Nagar is classified as Residential Class II Type - III, indicating its designation for residential use.

What are the other guideline values in Ottiyampakkam?

In Ottiyampakkam, guideline values range from Rs 1,300 to Rs 4,300 per sq.ft. The median value is Rs 1,950 per sq.ft, with Vinveli Nagar's value being below this median.

Where is the Selaiyur Sub Registrar Office 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.