Guideline Value for Vinayagar St

Vinayagar St guideline value

The current guideline value of Vinayagar St in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Vinayagar St has changed

Over the years, the guideline value of Vinayagar St has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which matches the current value of Vinayagar St.

• Vinayagar Koil Cross St: Rs 1,100 per sq.ft (2024)
• Viswamithran Street: Rs 1,650 per sq.ft (2024)
• Viyasar Street: Rs 1,650 per sq.ft (2024)
• Vigneshpuram: Rs 1,100 per sq.ft (2024)
• VOC Saminathan Street: Rs 2,750 per sq.ft (2024)
• Vu.Ve.Saminatha Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar St

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinayagar St?

The Sub Registrar Office that covers Vinayagar St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is transparent and in line with government regulations.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vinayagar St?

The current guideline value of Vinayagar St is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Vinayagar St?

Vinayagar St is classified as Residential Class I Type - III.

Where can I find other streets with their guideline values in Chitlapakkam?

Other streets in Chitlapakkam can be found listed in the guideline value register under the Tambaram Joint 1 SRO, with values ranging from Rs 1,100 to Rs 8,800 per sq.ft.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.