Guideline Value for Vinayagar Koil Second Cross Street

Vinayagar Koil Second Cross Street guideline value

The current guideline value of Vinayagar Koil Second Cross Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vinayagar Koil Second Cross Street has changed

The guideline value for Vinayagar Koil Second Cross Street has undergone several revisions over the years. In 2012, the value was Rs 400 per sq.ft, which decreased to Rs 268 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, which represents a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,300 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, indicating that the guideline value of Vinayagar Koil Second Cross Street is below this median.

• Vinayagar Koil First Cross Street: Rs 440 per sq.ft (2024)
• Vinayagar Koil Street: Rs 440 per sq.ft (2024)
• Vengambakkam Main Road: Rs 3,300 per sq.ft (2024)
• Sudhanandha Bharathi 3rd Street: Rs 550 per sq.ft (2024)
• Sudhanandha Bharathi 2nd Street: Rs 550 per sq.ft (2024)
• Sudhanandha Bharathi 1st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil Second Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800. Therefore, the total cost for these fees would be Rs 39,600. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayagar Koil Second Cross Street?

The Sub Registrar Office that covers Vinayagar Koil Second Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a buyer purchases property, the stamp duty and registration fees are calculated based on the guideline value. This ensures that both the government and the buyer are aware of the property's worth, facilitating a transparent transaction process.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Second Cross Street?

The current guideline value of Vinayagar Koil Second Cross Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Vinayagar Koil Second Cross Street?

The land classification for Vinayagar Koil Second Cross Street is Residential Class II Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600.

Which office handles registrations for this street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Vinayagar Koil Second Cross Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.