Guideline Value for Vinayagar Koil Street

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil 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 Street has changed

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

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that the 2024 guideline value for Vinayagar Koil Street is below this median.

• Vinayagar Koil Second Cross Street: Rs 440 per sq.ft (2024)
• Vinayagar Koil First Cross 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 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, while the registration fee at 2% would be Rs 8,800. Together, the total charges would be Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayagar Koil Street?

The Sub Registrar Office that covers Vinayagar Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the 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 during property transactions in Kaspapuram. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the transaction reflects the current guideline value. This ensures compliance with local regulations and helps in the smooth processing of the registration at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil 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 median guideline value in Kaspapuram?

The median guideline value in Kaspapuram is Rs 1,100 per sq.ft. Vinayagar Koil Street's 2024 value is below this median.

What are the stamp duty and registration fees for properties on Vinayagar Koil Street?

For a 1,000 sq.ft plot at the current guideline value, the total charges would be Rs 39,600, which includes stamp duty and registration fees.

Where is the Sub Registrar Office for Vinayagar Koil Street located?

The Sub Registrar Office for Vinayagar Koil Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.