Guideline Value for Vinobaji Nagar 11th Street

Vinobaji Nagar 11th Street guideline value

The current guideline value of Vinobaji Nagar 11th Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vinobaji Nagar 11th Street has changed

The guideline value for Vinobaji Nagar 11th Street has undergone several revisions over the years. In 2007, the value was Rs 525 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a 414% rise. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 2,700 per sq.ft, and the latest revision in 2024 set it at Rs 2,970 per sq.ft, an increase of 10%.

To summarize the changes, the value rose from Rs 1,809 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2023, which is a 49% increase. Overall, from the 2007 figure of Rs 525 per sq.ft to the current 2024 value of Rs 2,970 per sq.ft, there has been a substantial increase of 466%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a guideline value for 2024, ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value is Rs 2,970 per sq.ft, which is equal to the current value of Vinobaji Nagar 11th Street.

• Vinobaji Nagar 10th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 12th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 13th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 14th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 15th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Nagar 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400, making the total cost Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinobaji Nagar 11th Street?

The Sub Registrar Office that covers Vinobaji Nagar 11th 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 additional information.

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

The guideline value is a critical factor in property transactions in Hastinapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is sold, the guideline value serves as a reference point for calculating the applicable stamp duty and registration fees. It is essential for both parties to be aware of the guideline value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 11th Street?

The current guideline value of Vinobaji Nagar 11th Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total cost would be Rs 2,67,300.

Which office handles property registrations for Vinobaji Nagar 11th Street?

The Pallavaram Sub Registrar Office handles property registrations for Vinobaji Nagar 11th Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Vinobaji Nagar 11th Street?

Vinobaji Nagar 11th Street is classified as Residential Class I Type - I, indicating its suitability for residential development.