Guideline Value for Vinobhaji Garden

Vinobhaji Garden guideline value

The current guideline value of Vinobhaji Garden, located in Sothupakkam village under the Redhills SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Vinobhaji Garden has changed

The guideline value for Vinobhaji Garden has seen several revisions over the years. Starting from Rs 21 per sq.ft in 2003, it increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 300 per sq.ft in 2012, but dropped to Rs 201 per sq.ft in 2017. The 2023 revision marked an increase to Rs 300 per sq.ft, followed by a further rise to the current value of Rs 330 per sq.ft in 2024. Notably, there is no figure available for the year 2002 in the register for this street.

In terms of percentage changes, the guideline value increased by 852% from 2003 to 2007, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The overall change from 2003 to 2024 is an impressive 1,471% increase.

Guideline values in Sothupakkam

In Sothupakkam, there are 49 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 1,150 per sq.ft. The median value for these streets is Rs 440 per sq.ft, placing Vinobhaji Garden's current figure below this median.

• Vijay Nagar: Rs 715 per sq.ft (2024)
• Thirumal Nagar: Rs 440 per sq.ft (2024)
• Thirumalai Nagar: Rs 440 per sq.ft (2024)
• Sri Vivek Nagar: Rs 440 per sq.ft (2024)
• Sri Vijaya Nagar: Rs 330 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobhaji Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total charges to Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vinobhaji Garden?

The Sub Registrar Office that covers Vinobhaji Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sothupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vinobhaji Garden?

The current guideline value of Vinobhaji Garden is Rs 330 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 21 per sq.ft in 2003 to Rs 330 per sq.ft in 2024, representing an overall increase of 1,471% over this period.

What is the land classification for Vinobhaji Garden?

Vinobhaji Garden is classified as Residential Class III Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Vinobhaji Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 3,30,000. The stamp duty is Rs 23,100, and the registration fee is Rs 6,600, totaling Rs 29,700.

Which office handles the registration for Vinobhaji Garden?

The Redhills Sub Registrar Office handles the registration for Vinobhaji Garden, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.