Guideline Value for Vijaya Ganapathi Koil Street Main

Vijaya Ganapathi Koil Street Main guideline value

The current guideline value of Vijaya Ganapathi Koil Street Main is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vijaya Ganapathi Koil Street Main has changed

The guideline value for Vijaya Ganapathi Koil Street Main has seen several revisions over the years. In the 2003 revision, the value was set at Rs 300 per sq.ft, which increased significantly in the following years. By 2007, the value rose to Rs 1,200 per sq.ft, and in 2012, it reached Rs 2,500 per sq.ft. However, in 2017, the value dropped to Rs 1,675 per sq.ft, only to increase again to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 2,800 per sq.ft, marking a 12% increase from the previous year.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 833%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, which is equal to the guideline value of Vijaya Ganapathi Koil Street Main.

• Vijaya Ganapathi nagar1st Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Vidhya Nagar: Rs 2,800 per sq.ft (2024)
• Vikneshwara Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Vikneshwarar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vijaya Ganapathi Koil Street Main

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijaya Ganapathi Koil Street Main?

The Vijaya Ganapathi Koil Street Main is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Ullagaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the sale or purchase of property. Buyers and sellers must ensure that the property is registered at or above the guideline value to comply with legal requirements.

When a property is sold, the guideline value is used to determine the minimum sale price for registration purposes. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Vijaya Ganapathi Koil Street Main?

The current guideline value of Vijaya Ganapathi Koil Street Main is Rs 2,800 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 300 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 833% over the years.

What is the median guideline value in Ullagaram?

The median guideline value for streets in Ullagaram is Rs 2,800 per sq.ft, which is the same as the guideline value for Vijaya Ganapathi Koil Street Main.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registration for Vijaya Ganapathi Koil Street Main?

The Alandur Sub Registrar Office handles property registration for Vijaya Ganapathi Koil Street Main, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.