Guideline Value for Vinobaji Nagar 13th Street

Vinobaji Nagar 13th Street guideline value

The current guideline value of Vinobaji Nagar 13th 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 13th Street has changed

The guideline value for Vinobaji Nagar 13th Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 525 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in the 2012 revision, marking a rise of 414%. However, in the 2017 revision, the value decreased to Rs 1,809 per sq.ft, which was a drop of 33%. The 2023 revision saw the value increase to Rs 2,700 per sq.ft, and the most recent 2024 revision has set it at Rs 2,970 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 466%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

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 value for these streets is Rs 2,970 per sq.ft, which is the same as the guideline value for Vinobaji Nagar 13th Street.

• Vinobaji Nagar 12th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 14th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 11th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 15th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 10th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 16th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Nagar 13th 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 be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost for stamp duty and registration fees to Rs 2,67,300. It is important to note that the 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 13th Street?

The Sub Registrar Office that covers Vinobaji Nagar 13th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the 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 property transactions in Hastinapuram, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 13th Street?

The current guideline value of Vinobaji Nagar 13th 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 significantly from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 466% over the years.

What are the stamp duty and registration fees for properties here?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,67,300.

Which office handles registrations for Vinobaji Nagar 13th Street?

The Pallavaram Sub Registrar Office handles registrations for Vinobaji Nagar 13th Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is essential in property transactions as it determines the minimum value for registration and affects the calculation of stamp duty and registration fees, ensuring compliance with local regulations.