Guideline Value for Vinayaga nagar

Vinayaga nagar guideline value

The current guideline value of Vinayaga nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Ponthoor village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class III 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 Rs 60 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, in 2017, it dropped to Rs 201 per sq.ft, before rising to Rs 300 per sq.ft in both 2023 and the latest revision in 2024, reflecting no change from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 400%. The changes between revisions include a 400% rise from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then increased by 49% from 2017 to 2023, remaining stable into 2024.

Guideline values in Ponthoor

Ponthoor village has a total of 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,239 per sq.ft. The median value is Rs 300 per sq.ft, which aligns with the current guideline value of Vinayaga nagar.

• Vijayalakshmi Town: Rs 402 per sq.ft (2024)
• Vijayalakshmi Nagar Part - I: Rs 402 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 402 per sq.ft (2024)
• Vijaya Avenue: Rs 300 per sq.ft (2024)
• Viswasanthi Nagar: Rs 500 per sq.ft (2024)
• Vetchi Poo Street: Rs 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Ponthoor. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the taxes reflect the true market value of the property being transacted.

Frequently asked questions

What is the current guideline value of Vinayaga nagar?

The current guideline value of Vinayaga nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, before remaining at Rs 300 per sq.ft in 2023 and 2024.

What is the land classification for Vinayaga nagar?

Vinayaga nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

What other streets have guideline values in Ponthoor?

Other streets in Ponthoor include Vijayalakshmi Town, Vijayalakshmi Nagar Part - I, Vijayalakshmi Nagar, Vijaya Avenue, Viswasanthi Nagar, and Vetchi Poo Street, each with varying guideline values.

Where is the Sub Registrar Office for Vinayaga nagar located?

The Sub Registrar Office for Vinayaga nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.