Guideline Value for Vinobaji Nagar 15th Street

Vinobaji Nagar 15th Street guideline value

The current guideline value of Vinobaji Nagar 15th Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Vinobaji Nagar 15th Street has changed

The guideline value for Vinobaji Nagar 15th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 525 per sq.ft. This value saw a significant increase to Rs 2,700 per sq.ft in 2012. However, it dropped to Rs 1,809 per sq.ft in 2017. From 2017 to 2023, the value surged by 49%, reaching Rs 2,700 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 2,970 per sq.ft, marking a 10% rise from the previous year.

It is important to note that the register has no figures for this street in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 466%.

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 the same as the current guideline value for Vinobaji Nagar 15th Street.

• Vinobaji Nagar 14th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 16th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 13th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 5th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 12th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 6th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Nagar 15th 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, and the registration fee at 2% would be Rs 59,400, making the total fees 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.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vinobaji Nagar 15th Street?

The Sub Registrar Office that covers Vinobaji Nagar 15th 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 information.

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

The guideline value is a critical factor when registering a property. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. When a property is registered, the stamp duty and registration fees are calculated based on this guideline value.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 15th Street?

The current guideline value of Vinobaji Nagar 15th 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, increasing from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024. Notable changes include a 414% increase from 2007 to 2012 and a 10% rise from 2023 to 2024.

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

For a property valued at the guideline rate of 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 registration office covers Vinobaji Nagar 15th Street?

The Pallavaram Sub Registrar Office covers Vinobaji Nagar 15th Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market trends in the area. It serves as a reference point for property transactions.