Guideline Value for Vinobaji Nagar 5th Street

Vinobaji Nagar 5th Street guideline value

The current guideline value of Vinobaji Nagar 5th 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 5th Street has changed

The guideline value for Vinobaji Nagar 5th Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 525 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, followed by a decrease to Rs 1,809 per sq.ft in 2017. The value then rose sharply to Rs 2,700 per sq.ft in 2023 before reaching the current figure of Rs 2,970 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 414%, but this was followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. The overall increase from 2007 to 2024 stands at 466%. 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 guideline value for 2024, 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 equal to the guideline value of Vinobaji Nagar 5th Street.

• Vinobaji Nagar 16th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 6th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 15th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 7th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 14th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 8th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Nagar 5th 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, making the total fees together 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinobaji Nagar 5th Street?

The Sub Registrar Office that covers Vinobaji Nagar 5th 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 crucial factor during the registration of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value will influence the stamp duty and registration fees payable. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, which can affect the overall financial commitment involved in the transaction.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 5th Street?

The current guideline value of Vinobaji Nagar 5th 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 property in Vinobaji Nagar 5th Street?

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 office handles registrations for Vinobaji Nagar 5th Street?

The Pallavaram Sub Registrar Office handles registrations for Vinobaji Nagar 5th Street, located in Chromepet, Chennai.

What is the land classification of Vinobaji Nagar 5th Street?

Vinobaji Nagar 5th Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.