Guideline Value for Vembadi Vinayakar Koil Street (V.V.K.S)

Vembadi Vinayakar Koil Street (V.V.K.S) guideline value

The current guideline value of Vembadi Vinayakar Koil Street (V.V.K.S) is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vembadi Vinayakar Koil Street (V.V.K.S) has changed

Over the years, the guideline value of Vembadi Vinayakar Koil Street (V.V.K.S) has seen significant changes. In the 2007 revision, the guideline value was Rs 600 per sq.ft. This value increased dramatically to Rs 2,600 per sq.ft in 2012, marking a rise of 333%. However, between 2012 and 2017, the value decreased to Rs 1,742 per sq.ft, a decline of 33%. The subsequent revision in 2023 saw an increase to Rs 2,600 per sq.ft, followed by another rise to Rs 2,860 per sq.ft in 2024, which is a 10% increase from the previous year.

To summarize the revisions, the guideline value changed from Rs 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 377%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Vembadi Vinayakar Koil Street's 2024 figure below this median.

• V.G.N. Blooming Garden: Rs 3,520 per sq.ft (2024)
• V.G.N. Brindavan Garden Extension: Rs 3,520 per sq.ft (2024)
• V.G.N Lakshmi Avenue: Rs 3,520 per sq.ft (2024)
• Vgn Royal Court: Rs 2,970 per sq.ft (2024)
• Udhayam Avenue: Rs 2,860 per sq.ft (2024)
• Viswanathan Palani Street: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Vembadi Vinayakar Koil Street (V.V.K.S)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, resulting in a total of Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vembadi Vinayakar Koil Street (V.V.K.S)?

The Sub Registrar Office that covers Vembadi Vinayakar Koil Street (V.V.K.S) is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

When buying or selling property in Mogalivakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline values, as these figures can significantly impact the overall cost of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vembadi Vinayakar Koil Street (V.V.K.S)?

The current guideline value of Vembadi Vinayakar Koil Street (V.V.K.S) is Rs 2,860 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 600 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 377% over the years.

What is the land classification for Vembadi Vinayakar Koil Street (V.V.K.S)?

Vembadi Vinayakar Koil Street (V.V.K.S) is classified as Residential Special Type - II.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Vembadi Vinayakar Koil Street (V.V.K.S)?

The stamp duty for properties in Vembadi Vinayakar Koil Street (V.V.K.S) is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.