Guideline Value for Vinobaji Nagar 7th Street

Vinobaji Nagar 7th Street guideline value

The current guideline value of Vinobaji Nagar 7th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of Vinobaji Nagar 7th Street has changed

The guideline value for Vinobaji Nagar 7th Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, this figure dropped to Rs 1,809 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 2,700 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,970 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 324%. It is important to note that 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 7th Street.

• Vinobaji Nagar 6th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 8th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 5th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 9th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 16th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 15th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobaji Nagar 7th 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, bringing the total cost to 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 7th Street?

The Sub Registrar Office that covers Vinobaji Nagar 7th 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 when buying or selling property, as it helps determine the stamp duty and registration fees that need to be paid. Buyers must ensure that they are aware of the current guideline value to accurately calculate these costs.

During the registration process, the guideline value serves as a reference point for the value of the property. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 7th Street?

The current guideline value of Vinobaji Nagar 7th 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 700 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking a total increase of 324% over the years.

What is the stamp duty rate for properties in Vinobaji Nagar 7th Street?

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

Where can I find the Sub Registrar Office for Vinobaji Nagar 7th Street?

The Sub Registrar Office for Vinobaji Nagar 7th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification of Vinobaji Nagar 7th Street?

Vinobaji Nagar 7th Street falls under the Residential Class I Type - I land classification.