Guideline Value for Vinayaga Nagar

Vinayaga Nagar guideline value

The current guideline value of Vinayaga Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vinayaga Nagar has changed

The guideline value for Vinayaga Nagar has seen several revisions over the years. In 2007, the value was set at Rs 895 per sq.ft, which then increased to Rs 1,200 per sq.ft in 2012, marking a rise of 34%. However, between 2012 and 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, reflecting a rise of 49% from the previous revision. The latest revision in 2024 has set the value at Rs 1,320 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 47%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Vinayaga Nagar is below this median.

• Vishnu Nagar: Rs 2,200 per sq.ft (2024)
• Vishnu Nagar extn: Rs 2,200 per sq.ft (2024)
• V.O.C. Street: Rs 6,600 per sq.ft (2024)
• V.V. Avenue: Rs 2,200 per sq.ft (2024)
• Vgn Trinity Gardens: Rs 8,250 per sq.ft (2024)
• Well Street (Ethirajapuram): Rs 3,300 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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 more details.

Which Sub Registrar Office covers Vinayaga Nagar?

The Sub Registrar Office that covers Vinayaga Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher amount between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar?

The current guideline value of Vinayaga Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 895 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 47% over the years.

What is the registration fee for property in Vinayaga Nagar?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 13,20,000, the registration fee would be Rs 26,400.

Which office handles property registration for Vinayaga Nagar?

The Tambaram Joint 1 Sub Registrar Office handles property registration for Vinayaga Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7% of the guideline value or the sale price, whichever is higher.