Guideline Value for Vinayagar Kovil Street

Vinayagar Kovil Street guideline value

The current guideline value for Vinayagar Kovil Street in Thirumanikuppam village is Rs 181 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - II.

How the guideline value of Vinayagar Kovil Street has changed

Over the years, the guideline value for Vinayagar Kovil Street has seen several revisions. The most recent revision in 2024 maintains the value at Rs 181 per sq.ft, which was also the value set in 2023. Prior to that, in 2017, the guideline value was Rs 121 per sq.ft, reflecting a significant increase of 50% from 2017 to 2023. The 2012 revision recorded a value of Rs 180 per sq.ft, indicating a decrease of 33% to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by just 1%.

The register has no figures for the revisions in 2002, 2003, and 2007. The 2012 figure of Rs 180 was followed by the 2017 revision of Rs 121, and then the values rose to Rs 181 in both 2023 and 2024.

Guideline values in Thirumanikuppam

In Thirumanikuppam, there are 15 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 130 to Rs 200 per sq.ft. The median value among these streets is Rs 181 per sq.ft, making Vinayagar Kovil Street's 2024 figure equal to the median.

• Vasinampattu Colony: Rs 130 per sq.ft (2024)
• Thatko Colony: Rs 130 per sq.ft (2024)
• SriLakshmi Nagar: Rs 200 per sq.ft (2024)
• Sri Jayalakshmi nagar: Rs 200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Sri Annai Parasakthi Avenue: Rs 200 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 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, and the registration fee at 2% would amount to Rs 3,620, leading to a total cost of Rs 16,290. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Thirumanikuppam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Vinayagar Kovil Street?

The current guideline value of Vinayagar Kovil Street is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 181 per sq.ft from 2023 to 2024. It increased from Rs 121 per sq.ft in 2017 to Rs 181 in 2023, marking a 50% rise over that period.

What is the land classification for Vinayagar Kovil Street?

Vinayagar Kovil Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Which office handles registrations for Vinayagar Kovil Street?

The Sunguvarchattram Sub Registrar Office is responsible for handling registrations for properties on Vinayagar Kovil Street.

How is the stamp duty calculated for properties in Thirumanikuppam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the fees reflect the true value of the property being registered.