Guideline Value for Vinaitheerth Vinayagar Koil Street

Vinaitheerth Vinayagar Koil Street guideline value

The current guideline value of Vinaitheerth Vinayagar Koil Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class IV Type - II.

How the guideline value of Vinaitheerth Vinayagar Koil Street has changed

Over the years, the guideline value for Vinaitheerth Vinayagar Koil Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the most recent 2024 revision established the current value at Rs 880 per sq.ft, marking a significant increase of 47% from the previous year.

In summary, the changes in guideline value from the 2012 revision to the 2024 revision indicate an overall increase of 47%. The 2017 revision did not maintain the upward trend, as it represented a decrease of 33% from the 2012 figure. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with a 2024 guideline value range from Rs 850 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,150 per sq.ft, which means that Vinaitheerth Vinayagar Koil Street's 2024 guideline value is below the median.

• Vidhyasakar Street: Rs 1,300 per sq.ft (2024)
• V.G.P.Srinivasa Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 6th street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 5th street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 4th Street: Rs 2,700 per sq.ft (2024)
• V.G.P.Srinivasa Nagar South 3rd Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration fee would be Rs 79,200. 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 further calculations.

Which Sub Registrar Office covers Vinaitheerth Vinayagar Koil Street?

The Sub Registrar Office covering Vinaitheerth Vinayagar Koil Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Rajakilpakkam, as it determines the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the higher value between the sale price and the guideline value is used to calculate the applicable stamp duty and registration fees.

This ensures that the government receives the appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the financial implications when purchasing property in this area.

Frequently asked questions

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

The current guideline value of Vinaitheerth Vinayagar Koil Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Vinaitheerth Vinayagar Koil Street?

Vinaitheerth Vinayagar Koil Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Vinaitheerth Vinayagar Koil Street?

The Sub Registrar Office for Vinaitheerth Vinayagar Koil Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.