Guideline Value for Vinobaji Nagar 9th Street

Vinobaji Nagar 9th Street guideline value

The current guideline value of Vinobaji Nagar 9th Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Vinobaji Nagar 9th Street has changed

Over the years, the guideline value of Vinobaji Nagar 9th Street has seen significant changes. The 2007 revision set the value at Rs 525 per sq.ft, which increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 414%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, a 49% increase from 2017, 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 does not have figures for the years 2002 and 2003 for this street. 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 guideline value is Rs 2,970 per sq.ft, which is equal to the guideline value of Vinobaji Nagar 9th Street.

• Vinobaji Nagar 8th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 7th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 6th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 5th 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 9th 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 for these fees to Rs 2,67,300. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Vinobaji Nagar 9th Street?

The Sub Registrar Office that covers Vinobaji Nagar 9th Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value in the eyes of the law.

When you buy or sell property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar 9th Street?

The current guideline value of Vinobaji Nagar 9th 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, which is an overall increase of 466%.

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

For a 1,000 sq.ft plot, the total guideline value is 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 property registrations in Vinobaji Nagar 9th Street?

The Pallavaram Sub Registrar Office handles property registrations for Vinobaji Nagar 9th Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Vinobaji Nagar 9th Street?

The land classification for Vinobaji Nagar 9th Street is Residential Class I Type - I, indicating its suitability for residential development.