Guideline Value for B.V.R.Nagar - Vivekanandar Street

B.V.R.Nagar - Vivekanandar Street guideline value

The current guideline value of B.V.R.Nagar - Vivekanandar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of B.V.R.Nagar - Vivekanandar Street has changed

Over the years, the guideline value for B.V.R.Nagar - Vivekanandar Street has seen significant changes. The oldest recorded revision is from 2007, where the guideline value was Rs 650 per sq.ft. This value increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a change of +362%. The value remained unchanged at Rs 3,000 per sq.ft in the 2023 revision. The latest revision in 2024 saw an increase to Rs 3,300 per sq.ft, which is a rise of +10% from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +408%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing B.V.R.Nagar - Vivekanandar Street's 2024 figure below the median.

• B.V.R.Nagar Main Road: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar - Angala Parameswari Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in B.V.R.Nagar - Vivekanandar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers B.V.R.Nagar - Vivekanandar Street?

The Sub Registrar Office that covers B.V.R.Nagar - Vivekanandar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

When buying or selling property in Valasaravakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is set by the government and is used to assess the value of the property for taxation purposes.

At the time of registration, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of B.V.R.Nagar - Vivekanandar Street?

The current guideline value of B.V.R.Nagar - Vivekanandar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +408% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles registrations for B.V.R.Nagar - Vivekanandar Street?

The Virugambakkam Sub Registrar Office handles registrations for B.V.R.Nagar - Vivekanandar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for B.V.R.Nagar - Vivekanandar Street?

The land classification for B.V.R.Nagar - Vivekanandar Street is Residential Class II Type - II.