Guideline Value for Vinayakar Koil Street

Vinayakar Koil Street guideline value

The current guideline value of Vinayakar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vinayakar Koil Street has changed

The guideline value for Vinayakar Koil Street has undergone several revisions over the years. The earliest available figure is from 2003, which was Rs 832 per sq.ft. This value increased to Rs 900 per sq.ft in 2007, marking an increase of 8%. In 2012, the value rose significantly to Rs 3,000 per sq.ft, reflecting a substantial increase of 233%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The guideline value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 297%. There is no available figure for the year 2002 in the register for this street.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Vinayakar Koil Street.

• Xavier Street: Rs 2,200 per sq.ft (2024)
• Yasinkhan Cross Street: Rs 3,300 per sq.ft (2024)
• Yasinkhan II Street: Rs 3,300 per sq.ft (2024)
• Yasinkhan I street: Rs 3,300 per sq.ft (2024)
• Valluvar Pettai: Rs 4,400 per sq.ft (2024)
• Thiru.Vi.Ka. Street (poli chetty street): Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vinayakar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 detailed calculations.

Which Sub Registrar Office covers Vinayakar Koil Street?

The Sub Registrar Office that covers Vinayakar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Issa Pallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vinayakar Koil Street?

The current guideline value of Vinayakar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 832 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 297% over the years.

What is the land classification for Vinayakar Koil Street?

Vinayakar Koil Street is classified as Residential Class I Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Vinayakar Koil Street?

The Pallavaram Sub Registrar Office covers Vinayakar Koil Street and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Vinayakar Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.