Guideline Value for Vinoba Street

Vinoba Street guideline value

The current guideline value of Vinoba Street in Thiruneermalai village, under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Vinoba Street has changed

The guideline value for Vinoba Street has undergone several revisions over the years. In 2003, the value was Rs 244 per sq.ft, which increased significantly to Rs 810 per sq.ft in 2007. The 2017 revision saw a further rise to Rs 1,474 per sq.ft. The next revision in 2023 brought the value to Rs 2,200 per sq.ft, and the most recent revision in 2024 set it at Rs 2,420 per sq.ft. Notably, there are no figures available for the years 2002 and 2012 in the register for this street.

The changes between the revisions have been substantial. From 2003 to 2007, the guideline value increased by 232%. The increase from 2007 to 2017 was 82%, and from 2017 to 2023, it rose by 49%. The latest revision from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 892% from 2003 to 2024.

Guideline values in Thiruneermalai

Vinoba Street's 2024 guideline value of Rs 2,420 per sq.ft is equal to the median value of Rs 2,420 per sq.ft among the 316 streets in Thiruneermalai under the Pammal SRO, which range from Rs 1,320 to Rs 6,240 per sq.ft.

• Vikshadha Street: Rs 2,200 per sq.ft (2024)
• VOC Street / Durga Nagar: Rs 2,420 per sq.ft (2024)
• West Kulakarai Street: Rs 1,320 per sq.ft (2024)
• Yerikarai Pillayar Koil Street: Rs 1,320 per sq.ft (2024)
• Yerikarai Pillayar Koil Street (Ward 13): Rs 1,320 per sq.ft (2024)
• Yerikarai Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vinoba Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total fees together Rs 2,17,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinoba Street?

The Sub Registrar Office that covers Vinoba Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps to ascertain the appropriate taxes due. It is important for both parties to understand that the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vinoba Street?

The current guideline value of Vinoba Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 244 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, representing an overall increase of 892% over this period.

What are the other streets in Thiruneermalai with their guideline values?

Other streets in Thiruneermalai include Vikshadha Street at Rs 2,200 per sq.ft, VOC Street / Durga Nagar at Rs 2,420 per sq.ft, and several streets at Rs 1,320 per sq.ft.

What fees are associated with buying property on Vinoba Street?

The fees associated with buying property on Vinoba Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vinoba Street located?

The Sub Registrar Office for Vinoba Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, under the Chengalpattu registration zone.