Guideline Value for Vinayagar Koil 7th Street

Vinayagar Koil 7th Street guideline value

The current guideline value of Vinayagar Koil 7th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Vinayagar Koil 7th Street has changed

The guideline value for Vinayagar Koil 7th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was set at Rs 200 per sq.ft. This figure saw a significant increase to Rs 2,200 per sq.ft in 2012, marking a remarkable growth of 1000%. However, in the following revision in 2017, the value decreased to Rs 1,474 per sq.ft, which represented a decline of 33%. The most recent revision in 2024 has brought the guideline value back to Rs 2,400 per sq.ft, reflecting an increase of 63% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1100%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the current guideline value of Vinayagar Koil 7th Street.

• Vinayagar Koil 6th Street: Rs 2,400 per sq.ft (2024)
• Vinayagar Koil 8th Street: Rs 2,400 per sq.ft (2024)
• Vinayagar Koil 5th Street: Rs 2,400 per sq.ft (2024)
• Vinayagar Koil 9th Street: Rs 2,400 per sq.ft (2024)
• Vinayagar Koil 4th Street: Rs 2,400 per sq.ft (2024)
• Vinayagar Koil 3rd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000. Together, the total cost for stamp duty and registration fee would be Rs 2,16,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Vinayagar Koil 7th Street?

The Sub Registrar Office that covers Vinayagar Koil 7th Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumullaivoyal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices, as the registration office will use this value to calculate the applicable stamp duty and registration fees.

When a property is sold, the sale price cannot be lower than the guideline value. This regulation ensures that the government receives the appropriate revenue through stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vinayagar Koil 7th Street?

The current guideline value of Vinayagar Koil 7th Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 200 per sq.ft in 2007 and reaching Rs 2,400 per sq.ft in 2024. There were decreases and increases in between, with the most notable being a 1000% increase from 2007 to 2012.

Which Sub Registrar Office covers this street?

The Ambattur Sub Registrar Office covers Vinayagar Koil 7th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for properties here?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,16,000 in fees based on the current guideline value.

What is the median guideline value for other streets in Thirumullaivoyal?

The median guideline value for other streets in Thirumullaivoyal is Rs 2,400 per sq.ft, which is the same as the guideline value for Vinayagar Koil 7th Street in 2024.