Guideline Value for Vinayagarpuram

Vinayagarpuram guideline value

The current guideline value of Vinayagarpuram is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class III Type - II.

How the guideline value of Vinayagarpuram has changed

The guideline value for Vinayagarpuram has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, an increase from the 2023 figure of Rs 1,200 per sq.ft, marking an 8% rise. Prior to that, in 2017, the guideline value was Rs 804 per sq.ft, which means there was a significant increase of 49% to reach the 2023 figure. The 2012 revision also set the value at Rs 1,200 per sq.ft, but this was a decrease of 33% from the 2017 revision.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Vinayagarpuram is below this median.

• Vinobha Nagar: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayagarpuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 accurate calculations.

Which Sub Registrar Office covers Vinayagarpuram?

Vinayagarpuram falls under the Selaiyur Sub Registrar Office located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. This ensures that both parties are informed and can make decisions based on the established values in the area.

Frequently asked questions

What is the current guideline value of Vinayagarpuram?

The current guideline value of Vinayagarpuram is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification of Vinayagarpuram?

Vinayagarpuram is classified as Residential Class III Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Vinayagarpuram?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.