Guideline Value for Vinayakar Koil Street (Teacher Colony)

Vinayakar Koil Street (Teacher Colony) guideline value

The current guideline value of Vinayakar Koil Street (Teacher Colony) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Vinayakar Koil Street (Teacher Colony) has changed

Over the years, the guideline value of Vinayakar Koil Street has seen several revisions. In 2012, the guideline value was set at Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, followed by a further rise to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, which means that Vinayakar Koil Street's 2024 figure of Rs 2,200 per sq.ft is below the median.

• Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Visalakshi 1st Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 1st Cross Street (M.R. Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 2nd Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 3rd Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)
• Visalakshi 4th Cross Street (Lakshmi amman Nagar): Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayakar Koil Street (Teacher Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together 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.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinayakar Koil Street (Teacher Colony)?

The Sub Registrar Office that covers Vinayakar Koil Street (Teacher Colony) 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 Erukancherry

When buying or selling property in Erukancherry, the guideline value is a crucial factor in determining the registration fees. This value is used to calculate the stamp duty and registration fees that must be paid during the registration process.

The guideline value serves as a reference point for transactions, ensuring that the property is registered at a value that reflects the current market standards set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vinayakar Koil Street?

The current guideline value of Vinayakar Koil Street (Teacher Colony) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and currently to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vinayakar Koil Street?

Vinayakar Koil Street falls under the Residential Class IV Type - I land classification.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for Vinayakar Koil Street?

The Madhavaram Sub Registrar Office handles registrations for Vinayakar Koil Street (Teacher Colony), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.