Guideline Value for Vinoba Street

Vinoba Street guideline value

The current guideline value of Vinoba Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class III 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 2002, the guideline value was Rs 512 per sq.ft. This increased to Rs 559 per sq.ft in 2003, marking a change of +9%. The value then rose significantly to Rs 850 per sq.ft in 2007, reflecting a +52% increase. In 2012, the value was recorded at Rs 3,000 per sq.ft, which was a notable increase of +253% from the previous revision. The 2017 revision saw a decrease to Rs 2,010 per sq.ft, which was a drop of -33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, representing a +10% change.

There are no other revisions with figures recorded for Vinoba Street in the register. Overall, from 2002 to 2024, the guideline value has increased by +545%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that have a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Vinoba Street's 2024 figure below that median.

• Vitalachari Street: Rs 2,750 per sq.ft (2024)
• Vivekanandar Street: Rs 4,400 per sq.ft (2024)
• Vijayaraghavapuram Main Road: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 8th Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 7th Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 6th Cross Street (5th Street): Rs 2,750 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 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 cost for these fees 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 further calculations.

Which Sub Registrar Office covers Vinoba Street?

The Sub Registrar Office that covers Vinoba Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

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

The guideline value is an important factor when registering property transactions in Saligramam. It serves as a benchmark for determining the value of the property for taxation purposes, ensuring that the appropriate stamp duty and registration fees are collected based on this value.

When buying or selling property, the guideline value helps in understanding the minimum value at which the property can be registered. This ensures transparency in property transactions and helps in preventing undervaluation.

Frequently asked questions

What is the current guideline value of Vinoba Street?

The current guideline value of Vinoba 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 changed several times, starting from Rs 512 per sq.ft in 2002 to the current Rs 3,300 per sq.ft in 2024. Notable changes include an increase of +253% from 2007 to 2012 and a decrease of -33% from 2012 to 2017.

What is the land classification for Vinoba Street?

Vinoba Street is classified as Residential Class III Type - I. This classification is important for determining the applicable guidelines and regulations for property transactions in the area.

Where can I find the Sub Registrar Office for Vinoba Street?

The Sub Registrar Office for Vinoba Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for property in Vinoba Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 at a rate of 7%.