Guideline Value for Vinobaji Nagar 12th Street

Vinobaji Nagar 12th Street guideline value

The current guideline value of Vinobaji Nagar 12th 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 12th Street has changed

The guideline value for Vinobaji Nagar 12th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 525 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, in 2017, it dropped to Rs 1,809 per sq.ft. The value then rose to Rs 2,700 per sq.ft in 2023, and subsequently, it was revised to Rs 2,970 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 466%. The revisions for the years 2002 and 2003 do not have figures listed for this street in the register.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is the same as the guideline value for Vinobaji Nagar 12th Street.

• Vinobaji Nagar 11th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 13th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 10th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 14th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar: 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 12th 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, and the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees to Rs 2,67,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinobaji Nagar 12th Street?

The Sub Registrar Office covering Vinobaji Nagar 12th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 12th Street?

The current guideline value of Vinobaji Nagar 12th 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 this period.

What is the stamp duty for property in Vinobaji Nagar 12th Street?

The stamp duty for a property in Vinobaji Nagar 12th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vinobaji Nagar 12th Street located?

The Sub Registrar Office for Vinobaji Nagar 12th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What other streets have the same guideline value in Hastinapuram?

Other streets in Hastinapuram that share the same guideline value of Rs 2,970 per sq.ft include Vinobaji Nagar 11th Street, Vinobaji Nagar 13th Street, Vinobaji Nagar 10th Street, Vinobaji Nagar 14th Street, and Vinobaji Nagar 15th Street.