Guideline Value for Vinayagar Koil Street Block 63 (W.M)

Vinayagar Koil Street Block 63 (W.M) guideline value

The current guideline value for Vinayagar Koil Street Block 63 (W.M) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vinayagar Koil Street Block 63 (W.M) has changed

The guideline value for Vinayagar Koil Street Block 63 (W.M) has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 800 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in 2012, marking a rise of 369%. However, in the 2017 revision, the value decreased to Rs 2,512 per sq.ft, a decline of 33%. The 2023 revision saw the value rise again to Rs 3,750 per sq.ft, and the latest 2024 revision set it at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 413%. The 2024 value of Rs 4,100 per sq.ft is below the median value of Rs 4,900 per sq.ft for the 1,031 streets in Kodambakkam under the Ashok Nagar SRO, which range from Rs 2,200 to Rs 11,000 per sq.ft.

Guideline values in Kodambakkam

In Kodambakkam, the guideline values for various streets reflect a wide range of pricing. The 2024 figures for Vinayagar Koil Street Block 63 (W.M) sit below the median value for the area. Here are some other streets in Kodambakkam:

• Vinayagar Koil Street (JPT): Rs 4,100 per sq.ft (2024)
• Vinayagam Street (W.M): Rs 6,600 per sq.ft (2024)
• Vijya Street (V.P): Rs 4,900 per sq.ft (2024)
• Vivekananda Nagar (NP): Rs 2,200 per sq.ft (2024)
• Vivekanandapuram 1st Street(Adhikesavapuram) (W.M): Rs 6,600 per sq.ft (2024)
• Vivekanandar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil Street Block 63 (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, while the registration fee at 2% would be Rs 82,000, bringing the total cost for these fees to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayagar Koil Street Block 63 (W.M)?

The Sub Registrar Office that covers Vinayagar Koil Street Block 63 (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer approaches the registration office, the guideline value helps in assessing the total costs involved in the transaction. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Vinayagar Koil Street Block 63 (W.M)?

The current guideline value for Vinayagar Koil Street Block 63 (W.M) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, reflecting an overall increase of 413% over the years.

What is the land classification for Vinayagar Koil Street Block 63 (W.M)?

The land classification for Vinayagar Koil Street Block 63 (W.M) is Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 41,00,000, the stamp duty at 7% would be Rs 2,87,000 and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000.

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

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. You can find your SRO for further assistance.