Guideline Value for Vinayagar Koil Street

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village under the Redhills SRO, with a land classification of Residential Class I Type - I.

How the guideline value of Vinayagar Koil Street has changed

The guideline value for Vinayagar Koil Street has seen significant changes over the years. In 2003, the guideline value was Rs 120 per sq.ft, which increased to Rs 300 per sq.ft in 2007. Following this, the value surged dramatically to Rs 1,500 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

There is no figure available for the year 2002 in the register for Vinayagar Koil Street. Overall, from 2003 to 2024, the guideline value has increased by 1275%.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in Puzhal is Rs 1,102 per sq.ft, positioning Vinayagar Koil Street above this median with its 2024 figure of Rs 1,650 per sq.ft.

• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vishnu Nagar: Rs 1,100 per sq.ft (2024)
• Vijiya Avenue: Rs 1,102 per sq.ft (2024)
• Vijaya Garden Annexe II: Rs 1,100 per sq.ft (2024)
• Vijaya Garden Annexe I: Rs 1,100 per sq.ft (2024)
• Vijaya Garden: Rs 1,100 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that stamp duty is charged on the higher of the guideline value or 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Puzhal. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value is compared to the sale price to determine which amount is higher. The stamp duty is then calculated based on this higher figure, ensuring that the correct fees are paid to the Registration Department.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street is Rs 1,650 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 120 per sq.ft in 2003 and reaching Rs 1,650 per sq.ft in 2024, marking an overall increase of 1275% from 2003 to 2024.

What is the registration office for Vinayagar Koil Street?

The registration office covering Vinayagar Koil Street is the Redhills Sub Registrar Office, located in Redhills, Chennai.

What are the stamp duty rates applicable in Puzhal?

The stamp duty rate applicable in Puzhal is 7% of the guideline value or sale price, whichever is higher. This is calculated during the registration of the property.

What other streets have guideline values in Puzhal?

Other streets in Puzhal include Vishnu Nagar, Vijiya Avenue, and Vijaya Garden, with guideline values ranging from Rs 1,100 to Rs 1,650 per sq.ft in 2024.