Guideline Value for Vinobaji Nagar 6th Street

Vinobaji Nagar 6th Street guideline value

The current guideline value of Vinobaji Nagar 6th 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vinobaji Nagar 6th Street has changed

The guideline value for Vinobaji Nagar 6th Street has seen several revisions over the years. The earliest recorded value is from 2007, which was Rs 525 per sq.ft. This figure increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 414%. However, the value decreased to Rs 1,809 per sq.ft in 2017, reflecting a drop of 33%. The value then increased substantially to Rs 2,700 per sq.ft in 2023, and further rose to Rs 2,970 per sq.ft in 2024, resulting in a 10% increase.

In summary, the guideline value has increased from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, which is an overall increase of 466%. There are no registered figures for this street in 2002 and 2003.

Guideline values in Hastinapuram

Hastinapuram village comprises 277 streets under the Pallavaram SRO, with guideline values 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 current value for Vinobaji Nagar 6th Street.

• Vinobaji Nagar 5th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 7th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 16th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 8th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 15th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 9th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Nagar 6th 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, bringing the total 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinobaji Nagar 6th Street?

The Sub Registrar Office that covers Vinobaji Nagar 6th 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 of property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale or purchase of property.

When a property is registered, 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 in the area.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 6th Street?

The current guideline value of Vinobaji Nagar 6th Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 525 per sq.ft to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 466%.

What other streets in Hastinapuram have the same guideline value?

Several other streets in Hastinapuram also have a guideline value of Rs 2,970 per sq.ft, including Vinobaji Nagar 5th, 7th, 8th, 9th, 15th, and 16th Streets.

What are the stamp duty rates for properties in Vinobaji Nagar 6th Street?

The stamp duty for properties in Vinobaji Nagar 6th Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in this area?

The Pallavaram Sub Registrar Office is responsible for property registrations in Vinobaji Nagar 6th Street, located in Chennai.