Guideline Value for Vinayagar Street

Vinayagar Street guideline value

The current guideline value of Vinayagar Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vinayagar Street has changed

Over the years, the guideline value of Vinayagar Street has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, there was a decrease to Rs 670 per sq.ft in the 2017 revision. The value then rose to Rs 1,000 per sq.ft in 2023 before reaching the current figure of Rs 1,100 per sq.ft in the 2024 revision. The changes from 2012 to 2017 reflect a decrease of 33%, while the jump from 2017 to 2023 shows an increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 175%.

It is important to note that there are no figures available for Vinayagar Street in the 2002 and 2003 revisions. The consistent upward trajectory in the guideline value highlights the changes in the area over the years.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the current value of Vinayagar Street.

• Vivekanadha Ist Street: Rs 1,320 per sq.ft (2024)
• Vivekanadha lIIrd Street: Rs 1,320 per sq.ft (2024)
• Vivekanadha lind Street: Rs 1,320 per sq.ft (2024)
• Vivekanadha Street: Rs 1,320 per sq.ft (2024)
• V.M. Nagar: Rs 1,650 per sq.ft (2024)
• V.O.C Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayagar Street?

The Sub Registrar Office that covers Vinayagar Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruvallur. It serves as a benchmark to determine the minimum value at which properties can be registered and helps in calculating the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government. This process helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Vinayagar Street?

The current guideline value of Vinayagar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 175% over this period.

What is the land classification for Vinayagar Street?

Vinayagar Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Vinayagar Street?

The Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, covers Vinayagar Street.