Guideline Value for Vinayagar Nagar (Vinayagapuram)

Vinayagar Nagar (Vinayagapuram) guideline value

The current guideline value of Vinayagar Nagar (Vinayagapuram) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Class I Type - I within the Madhavaram SRO.

How the guideline value of Vinayagar Nagar (Vinayagapuram) has changed

The guideline value for Vinayagar Nagar (Vinayagapuram) has seen significant changes over the years. The earliest revision on record is from 2012, which set the guideline value at Rs 1,500 per sq.ft. The most recent revision in 2024 has increased this value to Rs 2,200 per sq.ft, marking a notable increase of 47% from the previous figure.

There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street, indicating that the only recorded changes are between 2012 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that have a guideline value for 2024, ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Vinayagar Nagar's current rate above this median.

• Vinayagar Nagar (Ward-29): Rs 1,600 per sq.ft (2024)
• Vinayagar Koil st (Ward No.26): Rs 2,200 per sq.ft (2024)
• Vinayagar Koil St (Ward-29): Rs 2,200 per sq.ft (2024)
• Vinayagar Koil Street (Vinayagapuram): Rs 2,200 per sq.ft (2024)
• Vinobaji St, Ponniammanmedu (Ward-22): Rs 1,600 per sq.ft (2024)
• Vinobaji Street (Ponniamman Medu): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Nagar (Vinayagapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Nagar (Vinayagapuram)?

The Sub Registrar Office that covers Vinayagar Nagar (Vinayagapuram) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is considered to ensure that the fees are calculated accurately. This means that buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Vinayagar Nagar?

The current guideline value of Vinayagar Nagar (Vinayagapuram) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,500 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, which is a change of 47%. There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023 for this street.

What is the classification of land in Vinayagar Nagar?

Vinayagar Nagar (Vinayagapuram) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Vinayagar Nagar?

The stamp duty for a property valued at Rs 22,00,000 would be Rs 1,54,000, while the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Vinayagar Nagar (Vinayagapuram).