Guideline Value for Vinobaji Nagar 14th Street

Vinobaji Nagar 14th Street guideline value

The current guideline value of Vinobaji Nagar 14th Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Vinobaji Nagar 14th Street has changed

Over the years, the guideline value of Vinobaji Nagar 14th Street has seen significant changes. In 2007, the guideline value was Rs 525 per sq.ft. It increased dramatically by 414% to Rs 2,700 per sq.ft in 2012. However, between 2012 and 2017, there was a decrease of 33%, bringing the value down to Rs 1,809 per sq.ft. The value then rose by 49% to Rs 2,700 per sq.ft in 2023, before reaching the current value of Rs 2,970 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. 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 carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value is Rs 2,970 per sq.ft, which is equal to the guideline value of Vinobaji Nagar 14th Street.

• Vinobaji Nagar 11th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 12th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 13th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 15th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 16th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 5th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Nagar 14th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, the total cost for these fees would be 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 14th Street?

The Sub Registrar Office that covers Vinobaji Nagar 14th 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 information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 14th Street?

The current guideline value of Vinobaji Nagar 14th 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 in this area?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which Sub Registrar Office handles registrations for Vinobaji Nagar 14th Street?

The Pallavaram Sub Registrar Office handles registrations for Vinobaji Nagar 14th Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

The guideline value is significant as it determines the minimum price for property registration and is used to calculate stamp duty and registration fees, ensuring compliance with legal requirements during property transactions.