Guideline Value for Vinayagar Koil Street

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Vinayagar Koil Street has changed

The guideline value for Vinayagar Koil Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 186% rise. However, in the subsequent 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a 33% drop. The value then climbed to Rs 2,000 per sq.ft in 2023, and most recently, it has been revised to Rs 2,200 per sq.ft in 2024, indicating a 10% increase.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 214%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Vinayagar Koil Street is below this median.

• Vinayagar Colony: Rs 2,700 per sq.ft (2024)
• Vinobaba Nagar: Rs 2,200 per sq.ft (2024)
• Vinobha Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vivekananda Street (Ramakrishna Nagar): Rs 2,200 per sq.ft (2024)
• Vivekanandha Nagar: Rs 2,200 per sq.ft (2024)
• Vijaya Nagar Extension: Rs 2,200 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 rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and 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 covering Vinayagar Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. 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 a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum price at which a transaction can be registered. This ensures transparency and fairness in property dealings, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What are the other streets in Kolathur with their guideline values?

Other streets in Kolathur include Vinayagar Colony at Rs 2,700 per sq.ft, Vinobaba Nagar at Rs 2,200 per sq.ft, and several others, all listed above.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

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

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, covering Vinayagar Koil Street.