Guideline Value for Vinayagar Koil Street

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Vinayagar Koil Street has changed

Looking at the revisions, the guideline value for Vinayagar Koil Street has seen several changes over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision marked a significant increase to Rs 134 per sq.ft, reflecting a 49% increase from the previous revision. It is important to note that there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft. The most recent revision in 2024 shows no change from the 2023 figure, maintaining the value at Rs 200 per sq.ft.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, indicating that Vinayagar Koil Street's current rate is below this median.

• VIP city: Rs 300 per sq.ft (2024)
• VIP Nagar: Rs 300 per sq.ft (2024)
• V.O.C Nagar: Rs 200 per sq.ft (2024)
• VGP Iswarya Nagar: Rs 400 per sq.ft (2024)
• Thiruvalluvar Salai: Rs 250 per sq.ft (2024)
• Tambaram Roja Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Koil 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, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. 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?

The Sub Registrar Office that covers Vinayagar Koil 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 Kolathur

The guideline value is an essential factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil 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 seen various changes, with the most recent revision in 2024 maintaining the value at Rs 200 per sq.ft. From 2012 to 2017, it decreased to Rs 134 per sq.ft, but overall, it has remained stable from 2012 to 2024.

What is the land classification of Vinayagar Koil Street?

Vinayagar Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Kolathur?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 18,000.

Which office handles property registration for Vinayagar Koil Street?

The Sriperumpudur Sub Registrar Office handles property registration for Vinayagar Koil Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.