Guideline Value for Vinayagapuram (Ward-29)

Vinayagapuram (Ward-29) guideline value

The current guideline value of Vinayagapuram (Ward-29) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vinayagapuram (Ward-29) has changed

The guideline value for Vinayagapuram (Ward-29) has undergone significant changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, while the latest revision in 2024 increased it to Rs 2,200 per sq.ft, marking an increase of 83% from the previous figure.

There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street. The only revisions that provide figures are from 2012 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, indicating that the guideline value of Vinayagapuram (Ward-29) is above this median.

• Vinayagapuram Vinayagar Koil st (Ward No.29): Rs 2,200 per sq.ft (2024)
• Vinayagapuram BurialGround Rd (Ward No.29): Rs 2,200 per sq.ft (2024)
• Vinayagar Koil Street (Vinayagapuram): Rs 2,200 per sq.ft (2024)
• Vinayagar Koil St (Ward-29): Rs 2,200 per sq.ft (2024)
• Vinayagar Koil st (Ward No.26): Rs 2,200 per sq.ft (2024)
• Vinayagar Nagar (Vinayagapuram): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagapuram (Ward-29)

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 details.

Which Sub Registrar Office covers Vinayagapuram (Ward-29)?

The Sub Registrar Office that covers Vinayagapuram (Ward-29) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Madhavaram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the higher of the guideline value or the sale price is taken into account for the calculation of taxes and fees. This ensures that the transaction is recorded accurately according to the prevailing regulations.

Frequently asked questions

What is the current guideline value of Vinayagapuram (Ward-29)?

The current guideline value of Vinayagapuram (Ward-29) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since the 2012 revision, the guideline value has increased from Rs 1,200 per sq.ft to Rs 2,200 per sq.ft in 2024, which is an increase of 83%.

What is the land classification for Vinayagapuram (Ward-29)?

Vinayagapuram (Ward-29) is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated in Vinayagapuram (Ward-29)?

Stamp duty in Vinayagapuram (Ward-29) is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.