Guideline Value for Vinayaka Nagar Extension

Vinayaka Nagar Extension guideline value

The current guideline value of Vinayaka Nagar Extension is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Karasangal village under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Vinayaka Nagar Extension has changed

Over the years, the guideline value for Vinayaka Nagar Extension has undergone several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was Rs 268 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The 2023 revision maintained the value at Rs 400 per sq.ft, and the same value has been retained in the 2024 revision, showing no change (0%) from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 to the 2024 revisions, the guideline value has remained stable with a total change of 0%.

Guideline values in Karasangal

In Karasangal, there are 59 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 3,550 per sq.ft. The median value for these streets is Rs 402 per sq.ft, positioning Vinayaka Nagar Extension's 2024 figure below this median.

• Vianayaga Nagar: Rs 400 per sq.ft (2024)
• Thulakkanathamman Koil Street: Rs 100 per sq.ft (2024)
• Theruveethi Amman Koil Street: Rs 100 per sq.ft (2024)
• Tambaram Kanchipuram Road: Rs 900 per sq.ft (2024)
• Sowntharapandiyan Nagar: Rs 800 per sq.ft (2024)
• Sindhu Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayaka Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that 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 Vinayaka Nagar Extension?

The Sub Registrar Office that covers Vinayaka Nagar Extension is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Karasangal. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, which means that buyers should be aware of the guideline value to estimate their total costs effectively.

Frequently asked questions

What is the current guideline value of Vinayaka Nagar Extension?

The current guideline value of Vinayaka Nagar Extension is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft in both the 2023 and 2024 revisions. It was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012, showing a significant increase of 49% from 2017 to 2023.

What is the land classification of Vinayaka Nagar Extension?

Vinayaka Nagar Extension is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vinayaka Nagar Extension?

The Sub Registrar Office for Vinayaka Nagar Extension is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vinayaka Nagar Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at 7%, along with a registration fee of Rs 8,000 at 2%.