Guideline Value for Vinobaji Nagar

Vinobaji Nagar guideline value

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

How the guideline value of Vinobaji Nagar has changed

Over the years, the guideline value of Vinobaji Nagar has seen significant changes. Starting from Rs 525 per sq.ft in 2007, it rose to Rs 2,700 per sq.ft in 2012, marking an increase of 414%. However, it then decreased by 33% to Rs 1,809 per sq.ft in 2017. The value then increased dramatically by 49% to Rs 2,700 per sq.ft in 2023, and finally saw a 10% rise to the current Rs 2,970 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 466%, reflecting the changes in the revisions over the years. The revisions show a clear fluctuation in values, with the most recent revision aligning with the median value for the village.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that have a guideline value for 2024, 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 guideline value for Vinobaji Nagar.

• Vinobaji Nagar 10th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 11th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 12th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 13th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 14th 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

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 fees to Rs 2,67,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vinobaji Nagar?

The Sub Registrar Office that covers Vinobaji Nagar 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 in Hastinapuram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer agrees to purchase a property, the guideline value serves as a benchmark for the transaction. The stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vinobaji Nagar?

The current guideline value of Vinobaji Nagar 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 from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, with various revisions reflecting increases and decreases over the years.

What is the median guideline value for streets in Hastinapuram?

The median guideline value for streets in Hastinapuram is Rs 2,970 per sq.ft, which is the same as the guideline value for Vinobaji Nagar.

How is stamp duty calculated for properties in Vinobaji Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 29,70,000 incurs a stamp duty of Rs 2,07,900.

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

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