Guideline Value for Vinayaga Nagar 7th Street

Vinayaga Nagar 7th Street guideline value

The current guideline value of Vinayaga Nagar 7th Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Vinayaga Nagar 7th Street has changed

The guideline value for Vinayaga Nagar 7th Street has seen several revisions over the years. The 2024 revision sets the value at Rs 1,870 per sq.ft, an increase from Rs 1,700 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, in the 2017 revision, the value was Rs 1,139 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +64%.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the changes noted are only from the revisions available.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, placing Vinayaga Nagar 7th Street's 2024 guideline value below the median.

• Vinayaga Nagar 6th Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 8th Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 5th Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 8th Street 1st Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 4th Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar 8th Street 2nd Street: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaga Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vinayaga Nagar 7th Street?

The Sub Registrar Office that covers Vinayaga Nagar 7th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Anakaputhur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall costs involved in property transactions. This ensures transparency and helps in understanding the financial obligations that come with property ownership.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar 7th Street?

The current guideline value of Vinayaga Nagar 7th Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, marking an overall increase of +64% over this period.

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

For a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900 and the registration fee would be Rs 37,400, totaling Rs 1,68,300.

Which Sub Registrar Office handles transactions for this street?

The Pammal Sub Registrar Office handles transactions for Vinayaga Nagar 7th Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Vinayaga Nagar 7th Street?

Vinayaga Nagar 7th Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.