Guideline Value for Vinayaga Nagar

Vinayaga Nagar guideline value

The current guideline value of Vinayaga Nagar, located in Pazhanthandalam village, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office and is classified as Residential Special Type - II.

How the guideline value of Vinayaga Nagar has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. This was followed by a decrease to Rs 469 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 770 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pazhanthandalam

There are 57 streets in Pazhanthandalam under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,980 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Vinayaga Nagar is below this median.

• Vivekananda Nagar: Rs 1,100 per sq.ft (2024)
• Vasanthi Nagar: Rs 770 per sq.ft (2024)
• Thai Thillai Nagar: Rs 770 per sq.ft (2024)
• Thai Kanniyammal Nagar Extension III: Rs 770 per sq.ft (2024)
• Thai Kanniyammal Nagar: Rs 770 per sq.ft (2024)
• Tasiowa Industrial Park Phase II: 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vinayaga Nagar?

Vinayaga Nagar is covered by 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 Pazhanthandalam

The guideline value is a critical factor during property registration in Pazhanthandalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from transactions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs incurred during the transfer of property ownership. Understanding the guideline value is essential for both buyers and sellers to ensure 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Vinayaga Nagar?

Vinayaga Nagar is classified as Residential Special Type - II under the local land classification system.

Where can I find the registration office for Vinayaga Nagar?

The registration office covering Vinayaga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Vinayaga Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 at a rate of 7%.