Guideline Value for Vinayagar Kovil Street

Vinayagar Kovil Street guideline value

The current guideline value of Vinayagar Kovil Street is Rs 275 per sq.ft. This street is located in Mambakkam village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vinayagar Kovil Street has changed

The guideline value for Vinayagar Kovil Street has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 275 per sq.ft, unchanged from the 2023 revision. Prior to that, the 2017 revision set the value at Rs 184 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023. The 2012 revision also listed the value at Rs 275 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 275 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Therefore, the guideline values for these years are not applicable.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 1,418 per sq.ft. The median guideline value for these streets is Rs 305 per sq.ft, placing Vinayagar Kovil Street's 2024 value below this median.

• Viilage Bajanai Kovil Street: Rs 305 per sq.ft (2024)
• V.M.R Nagar: Rs 305 per sq.ft (2024)
• VairaKula Street: Rs 305 per sq.ft (2024)
• Uratchimandra Aluvalaga street: Rs 250 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 275 per sq.ft (2024)
• Thabalmedu: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, while the registration fee at 2% would be Rs 5,500, bringing the total additional costs to Rs 24,750. 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 Kovil Street?

The Sub Registrar Office that covers Vinayagar Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mambakkam, as it determines the minimum value at which a property can be registered. When a buyer purchases property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the costs involved in the transaction.

During the registration process, the guideline value serves as a benchmark for the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Vinayagar Kovil Street?

The current guideline value of Vinayagar Kovil Street is Rs 275 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 275 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 184 per sq.ft in 2017 to Rs 275 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the median guideline value for streets in Mambakkam?

The median guideline value for streets in Mambakkam is Rs 305 per sq.ft, which is higher than the current guideline value of Vinayagar Kovil Street.

What are the stamp duty rates for properties in Mambakkam?

The stamp duty for properties in Mambakkam is charged at a rate of 7% on the guideline value or the sale price, whichever is higher. Additional registration fees are charged at 2%.

Which office handles property registrations for Vinayagar Kovil Street?

The Sunguvarchattram Sub Registrar Office handles property registrations for Vinayagar Kovil Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.