Guideline Value for Vinobha Nagar 2nd Cross Street

Vinobha Nagar 2nd Cross Street guideline value

The current guideline value of Vinobha Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Vinobha Nagar 2nd Cross Street has changed

The guideline value for Vinobha Nagar 2nd Cross Street has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 2,500 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The value then rose significantly to Rs 2,500 per sq.ft in the 2023 revision, and further increased to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Vinobha Nagar 2nd Cross Street's 2024 figure above that median.

• Vinobha Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Main Road: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobha Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vinobha Nagar 2nd Cross Street?

The Sub Registrar Office that covers Vinobha Nagar 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is an important factor when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which property transactions can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When a property is sold, 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.

Frequently asked questions

What is the current guideline value for Vinobha Nagar 2nd Cross Street?

The current guideline value for Vinobha Nagar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, which means Vinobha Nagar 2nd Cross Street's 2024 figure is above this median.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,47,500, based on the guideline value of Rs 27,50,000.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Vinobha Nagar 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.