Guideline Value for Varasithi Vinayagar Koil Street

Varasithi Vinayagar Koil Street guideline value

The current guideline value of Varasithi Vinayagar Koil Street is Rs 4,400 per sq.ft. This street is located in Aminjikarai village, under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Varasithi Vinayagar Koil Street has changed

The guideline value for Varasithi Vinayagar Koil Street has seen several revisions over the years. In 2002, the value was Rs 530 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following that, the value rose significantly to Rs 4,000 per sq.ft in 2012, before dropping to Rs 2,680 per sq.ft in 2017. The 2023 revision set the value at Rs 4,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 4,400 per sq.ft.

Notably, the changes between the revisions highlight a 126% increase from 2002 to 2007, followed by a substantial 233% rise from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then saw a remarkable 49% increase from 2017 to 2023, culminating in a 10% rise from 2023 to 2024. The register has no figure for this street in 2003.

Guideline values in Aminjikarai

Aminjikarai comprises 99 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, placing Varasithi Vinayagar Koil Street at the median level for the area.

• Vellalar Street: Rs 5,500 per sq.ft (2024)
• Venkatasamy Puram puram: Rs 3,300 per sq.ft (2024)
• Venkataswamy Puram Street 1 to 10: Rs 3,300 per sq.ft (2024)
• T.P. Chathiram West Side 7th Street: Rs 3,800 per sq.ft (2024)
• T.P. Chathiram West Side 31st Street: Rs 3,800 per sq.ft (2024)
• T.P. Chathiram West Side 29th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Varasithi Vinayagar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty is calculated at 7%, resulting in Rs 3,08,000, while the registration fee at 2% totals Rs 88,000. Together, the total cost for these fees amounts to Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Varasithi Vinayagar Koil Street?

The Sub Registrar Office that covers Varasithi Vinayagar Koil Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Aminjikarai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable, ensuring that all transactions are conducted fairly and transparently.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property registration. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Varasithi Vinayagar Koil Street?

The current guideline value of Varasithi Vinayagar Koil Street is Rs 4,400 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 530 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 730% over this period.

What is the registration office for Varasithi Vinayagar Koil Street?

The registration office for Varasithi Vinayagar Koil Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

Other streets in Aminjikarai have varying guideline values, with rates ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as Varasithi Vinayagar Koil Street's current rate.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.