Guideline Value for Vinayagar Koil 2nd Street

Vinayagar Koil 2nd Street guideline value

The current guideline value of Vinayagar Koil 2nd Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Sumanthiram Pedu village, under the Sriperumpudur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vinayagar Koil 2nd Street has changed

Looking at the revisions, the guideline value for Vinayagar Koil 2nd Street has seen several changes over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the 2017 revision, where it was Rs 134 per sq.ft. This marked a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft. The most recent revision in 2024 maintained this value at Rs 200 per sq.ft, reflecting no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Sumanthiram Pedu

In Sumanthiram Pedu, there are eight streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 500 per sq.ft. The median value is Rs 200 per sq.ft, which is also the guideline value for Vinayagar Koil 2nd Street. Below are the guideline values for other streets in Sumanthiram Pedu:

• Vinayagar Koil 1st Street: Rs 200 per sq.ft (2024)
• Polatchiyamman Koil Street: Rs 200 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Krishna Nagar: Rs 300 per sq.ft (2024)
• Kamachiamman Nagar: Rs 400 per sq.ft (2024)
• MGR Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vinayagar Koil 2nd Street?

The Sub Registrar Office that covers Vinayagar Koil 2nd Street 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 Sumanthiram Pedu

The guideline value is a crucial factor when buying or selling property in Sumanthiram Pedu. It serves as a benchmark for determining the minimum price at which a property can be registered. This value is used by the registration authorities to calculate the applicable stamp duty and registration fees.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue through taxes. Buyers and sellers should be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vinayagar Koil 2nd Street?

The current guideline value of Vinayagar Koil 2nd Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and an increase of 49% from 2017 to 2023.

What is the land classification for Vinayagar Koil 2nd Street?

Vinayagar Koil 2nd Street falls under the Residential Class II Type - I land classification.

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

The Sub Registrar Office for Vinayagar Koil 2nd Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.