Guideline Value for Vinayaga Avenue Phase II

Vinayaga Avenue Phase II guideline value

The current guideline value of Vinayaga Avenue Phase II is Rs 1,540 per sq.ft. This property is located in Kunrathour-B village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Vinayaga Avenue Phase II has changed

Since the 2017 revision, the guideline value has seen significant changes. In 2017, the value was Rs 938 per sq.ft, which increased to Rs 1,400 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 660 to Rs 5,130 per sq.ft. The median value is Rs 1,540 per sq.ft, which is equal to the current guideline value of Vinayaga Avenue Phase II.

• Vinayagam Avenue Phase - I: Rs 2,630 per sq.ft (2024)
• Vinayagar Nagar Extension: Rs 1,540 per sq.ft (2024)
• Vishal Nagar: Rs 1,540 per sq.ft (2024)
• Vishal Nagar Annexe: Rs 1,540 per sq.ft (2024)
• Vishal Nagar Phase I: Rs 1,540 per sq.ft (2024)
• Vigneshwara Nagar: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaga Avenue Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, while the registration fee at 2% would be Rs 30,800, bringing the total cost to Rs 1,38,600. Duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayaga Avenue Phase II?

The Sub Registrar Office that covers Vinayaga Avenue Phase II 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 Kunrathour-B

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kunrathour-B, the guideline value helps establish the stamp duty and registration fees applicable to the transaction.

It is important for buyers and sellers to be aware of the current guideline value, as it can impact the overall costs associated with the property transfer process. Accurate knowledge of the guideline value ensures compliance with local regulations and helps in planning the financial aspects of the transaction.

Frequently asked questions

What is the current guideline value of Vinayaga Avenue Phase II?

The current guideline value of Vinayaga Avenue Phase II is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 938 per sq.ft in 2017 to Rs 1,540 per sq.ft in 2024, representing a total increase of 64% over this period.

What is the land classification for Vinayaga Avenue Phase II?

Vinayaga Avenue Phase II is classified as Residential Special Type - I, which is important for understanding the property use and regulations in the area.

Where can I find the registration office for Vinayaga Avenue Phase II?

The Kunrathur Sub Registrar Office covers Vinayaga Avenue Phase II, located at No.59. Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Vinayaga Avenue Phase II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,40,000, the stamp duty would be Rs 1,07,800 at a rate of 7%.