Guideline Value for Vinayagapuram 1st Street

Vinayagapuram 1st Street guideline value

The current guideline value of Vinayagapuram 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - III.

How the guideline value of Vinayagapuram 1st Street has changed

Over the years, the guideline value for Vinayagapuram 1st Street has seen several revisions. The 2007 revision set the value at Rs 1,575 per sq.ft, which was a significant increase to Rs 3,500 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 has increased the guideline value to Rs 3,850 per sq.ft, reflecting a 10% rise from the previous year.

In summary, the changes from the earlier revisions are notable, with the increase from Rs 1,575 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024 representing an overall increase of 144%. It is important to note that the register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Vinayagapuram 1st Street's 2024 figure below that median.

• Vinayagapuram 2nd Street: Rs 3,850 per sq.ft (2024)
• Vinayagapuram: Rs 3,850 per sq.ft (2024)
• Vinayagapuram 3rd Street: Rs 3,850 per sq.ft (2024)
• Vinayagapuram 4th Street: Rs 3,850 per sq.ft (2024)
• Vinayaga Nagar Extn.: Rs 3,850 per sq.ft (2024)
• Vinayagapuram A.G.S. Colony 5th Main Road: Rs 4,400 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vinayagapuram 1st Street?

The Velacheri Sub Registrar Office covers Vinayagapuram 1st Street. The office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of Vinayagapuram 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,575 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 144% over the years.

What is the stamp duty for property in Vinayagapuram 1st Street?

The stamp duty for property in Vinayagapuram 1st Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Velacheri Sub Registrar Office covers Vinayagapuram 1st Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What are the guideline values of other streets in Velachery?

Other streets in Velachery have varying guideline values. For instance, Vinayagapuram 2nd Street, Vinayagapuram, Vinayagapuram 3rd Street, and Vinayagapuram 4th Street all share the same guideline value of Rs 3,850 per sq.ft for 2024.