Guideline Value for Vinayagapuram 3rd Street

Vinayagapuram 3rd Street guideline value

The current guideline value of Vinayagapuram 3rd 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 3rd Street has changed

Since the 2007 revision, the guideline value of Vinayagapuram 3rd Street has seen significant changes. In 2007, the guideline value was Rs 1,575 per sq.ft, which increased to Rs 3,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 144%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Velachery

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

• Vinayagapuram 2nd Street: Rs 3,850 per sq.ft (2024)
• Vinayagapuram 4th Street: Rs 3,850 per sq.ft (2024)
• Vinayagapuram A.G.S. Colony 5th Main Road: Rs 4,400 per sq.ft (2024)
• Vinayagapuram 1st Street: Rs 3,850 per sq.ft (2024)
• Vinayagapuram cross Street A.G.S. Colony: Rs 4,400 per sq.ft (2024)
• Vinayagapuram: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagapuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vinayagapuram 3rd Street?

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

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

The guideline value is a crucial factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees.

When buying or selling a property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are paid. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vinayagapuram 3rd Street?

The current guideline value of Vinayagapuram 3rd 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 changed from Rs 1,575 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, representing an overall increase of 144% over the years.

What is the stamp duty for properties in Vinayagapuram 3rd Street?

The stamp duty for properties in Vinayagapuram 3rd Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles the registration for Vinayagapuram 3rd Street?

The Velacheri Sub Registrar Office handles the registration for Vinayagapuram 3rd Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification of Vinayagapuram 3rd Street?

Vinayagapuram 3rd Street is classified as Residential Class II Type - III, indicating its suitability for residential development.