Guideline Value for Vinayaga Nagar

Vinayaga Nagar guideline value

The current guideline value of Vinayaga Nagar is Rs 1,650 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Pozhichalur village and falls under the Pammal Sub Registrar Office (SRO). The land classification for this locality is Residential Class I Type - I.

How the guideline value of Vinayaga Nagar has changed

The guideline value for Vinayaga Nagar has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 300 per sq.ft. This figure increased to Rs 1,005 per sq.ft in the 2017 revision, marking a 235% rise. However, there is no figure available for the years 2002, 2003, and 2012 for this street.

Continuing from the 2017 revision, the guideline value increased to Rs 1,500 per sq.ft in 2023, which is a 49% increase. The most recent revision in 2024 saw a further increase to Rs 1,650 per sq.ft, representing a 10% rise from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Vinayaga Nagar's 2024 figure above this median.

• Viman Nagar: Rs 2,200 per sq.ft (2024)
• Villaiyadu Vinayagar koil Street: Rs 1,100 per sq.ft (2024)
• Vijaya Nagar: Rs 1,320 per sq.ft (2024)
• Vishnu Street: Rs 1,100 per sq.ft (2024)
• Vivekanthar Street: Rs 1,100 per sq.ft (2024)
• VOC Street (12): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vinayaga Nagar?

The Pammal Sub Registrar Office covers Vinayaga Nagar. The office is 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 Pozhichalur

The guideline value is a crucial factor during the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling a property, the guideline value helps both parties understand the value of the property in the eyes of the law. This ensures transparency and fairness in property transactions, as the guideline value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar?

The current guideline value of Vinayaga Nagar is Rs 1,650 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 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450%.

What is the land classification for Vinayaga Nagar?

Vinayaga Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Vinayaga Nagar?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Vinayaga Nagar?

The Pammal Sub Registrar Office handles property registrations for Vinayaga Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.