Guideline Value for Vinayaga Nagar

Vinayaga Nagar guideline value

The current guideline value of Vinayaga Nagar is Rs 1,870 per sq.ft, effective from 1 July 2024. This village falls under the Kunrathur SRO and is classified as 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. The 2017 revision recorded a value of Rs 1,139 per sq.ft, which rose to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% increase. The current revision in 2024 has further increased the guideline value to Rs 1,870 per sq.ft, representing a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 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 Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, which is the same as the current value for Vinayaga Nagar.

• Visalakshi Nagar: Rs 1,870 per sq.ft (2024)
• Vignesh Nagar: Rs 1,870 per sq.ft (2024)
• V.M.S. Nagar: Rs 1,430 per sq.ft (2024)
• Walajah Street: Rs 1,870 per sq.ft (2024)
• Velleeswarar Koil Street: Rs 1,870 per sq.ft (2024)
• Vasanthapuri Phase I: Rs 2,090 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 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty is charged at 7%, which would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400. Together, the total cost for stamp duty and registration fee would be 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vinayaga Nagar?

The Sub Registrar Office that covers Vinayaga Nagar 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 Mangadu -A

The guideline value is an important factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This value helps in maintaining transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar?

The current guideline value of Vinayaga Nagar 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 a total increase of 64% over this period.

What is the stamp duty rate for properties in Vinayaga Nagar?

The stamp duty rate for properties in Vinayaga Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating stamp duty and registration fees during property transactions.