Guideline Value for Vinayagar Koil Street

Vinayagar Koil Street guideline value

The current guideline value of Vinayagar Koil Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Kathivakkam village under the Thiruvottiyur SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Vinayagar Koil Street has changed

The guideline value for Vinayagar Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 153 per sq.ft. This increased to Rs 183 per sq.ft in 2003, marking a 20% rise. The value continued to rise, reaching Rs 300 per sq.ft in 2007, which was a 64% increase from the previous revision. By 2012, the value had increased to Rs 800 per sq.ft, representing a significant 167% increase from 2007. However, in 2017, the value dropped to Rs 536 per sq.ft, reflecting a decrease of 33%.

Moving forward, the guideline value increased to Rs 1,000 per sq.ft in 2023, which was an 87% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 1,001 per sq.ft, showing no change from the 2023 figure. There are no other revisions recorded for this street in the register.

Guideline values in Kathivakkam

Kathivakkam village has a total of 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median guideline value in this village is Rs 1,001 per sq.ft, which is equal to the 2024 figure for Vinayagar Koil Street.

• Village Street: Rs 1,001 per sq.ft (2024)
• V.O.C. Nagar All Street: Rs 1,001 per sq.ft (2024)
• Ulaganathanpuram: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar / Street/Cross Streets: Rs 1,100 per sq.ft (2024)
• Thilagar Nagar /Streets: Rs 1,001 per sq.ft (2024)
• Thalanguppam Road/Street: Rs 1,001 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 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, making the total charges Rs 90,090. It is important to note that the 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kathivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration reflects the current value of the property in the area.

Frequently asked questions

What is the current guideline value of Vinayagar Koil Street?

The current guideline value of Vinayagar Koil Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 153 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, showing an overall increase of 554% over the years.

What is the stamp duty for property in Vinayagar Koil Street?

The stamp duty for property in Vinayagar Koil Street is 7% of the guideline value or sale price, whichever is higher.

Which registration office covers Vinayagar Koil Street?

The Thiruvottiyur Sub Registrar Office covers Vinayagar Koil Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What land classification is Vinayagar Koil Street under?

Vinayagar Koil Street is classified under Residential Class I Type - I land classification.