Guideline Value for Vinayagapuram 1st Street

Vinayagapuram 1st Street guideline value

The current guideline value of Vinayagapuram 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Karanaipuducheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - III.

How the guideline value of Vinayagapuram 1st Street has changed

The guideline value for Vinayagapuram 1st Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 297 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a growth of 237%. However, in the 2017 revision, the value adjusted downwards to Rs 670 per sq.ft, a decrease of 33%. The subsequent 2023 revision maintained the value at Rs 1,000 per sq.ft, showing no change from the previous year. The current 2024 revision also retains the guideline value at Rs 1,000 per sq.ft, resulting in a total increase of 49% from 2017 to 2023.

The register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 237%.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft, with a median value of Rs 802 per sq.ft. Vinayagapuram 1st Street's 2024 value of Rs 1,000 per sq.ft is above this median.

• Vijayalakshmi Nagar: Rs 1,642 per sq.ft (2024)
• Vijaya Lakshmi Avenue: Rs 1,200 per sq.ft (2024)
• Z.L.M.J. Lane: Rs 701 per sq.ft (2024)
• Uco Nagar: Rs 1,000 per sq.ft (2024)
• Tremain Project: Rs 804 per sq.ft (2024)
• Teacher's DJM City: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagapuram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, making the total cost for these fees Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayagapuram 1st Street?

The Sub Registrar Office that covers Vinayagapuram 1st Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Karanaipuducheri. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Vinayagapuram 1st Street?

The current guideline value of Vinayagapuram 1st Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 297 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreasing to Rs 670 per sq.ft in 2017, and finally stabilizing at Rs 1,000 per sq.ft in both 2023 and 2024.

What is the land classification of Vinayagapuram 1st Street?

Vinayagapuram 1st Street is classified as Residential Special Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Gooduvancheri Sub Registrar Office covers Vinayagapuram 1st Street. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.