Guideline Value for Vinayaga Nagar

Vinayaga Nagar guideline value

The current guideline value of Vinayaga Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class V Type - III.

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 Rs 50 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a rise of 700%. However, in 2017, the value dropped to Rs 268 per sq.ft, a decrease of 33%. The value then rose again to Rs 400 per sq.ft in 2023, and most recently, it has increased to Rs 440 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 780%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

Nandambakkam village has a total of 94 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 2,300 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, positioning Vinayaga Nagar's 2024 figure below this median.

• Vijayalakshmi Nagar: Rs 990 per sq.ft (2024)
• Vigneswara Nagar: Rs 770 per sq.ft (2024)
• VLC Balaji Nagar: Rs 990 per sq.ft (2024)
• Vetrimaran Nagar: Rs 670 per sq.ft (2024)
• Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 880 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Nandambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vinayaga Nagar?

The current guideline value of Vinayaga Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What is the median guideline value in Nandambakkam?

The median guideline value for streets in Nandambakkam is Rs 880 per sq.ft, with Vinayaga Nagar's value being below this median.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 39,600.

Which office handles property registrations in Vinayaga Nagar?

The Padappai Sub Registrar Office handles property registrations for Vinayaga Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.