Guideline Value for SWAMY VIVEKANANTHAR NAGAR 5TH STREET

Swamy Vivekananthar Nagar 5th Street guideline value

The current guideline value of Swamy Vivekananthar Nagar 5th Street is Rs 1,925 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Swamy Vivekananthar Nagar 5th Street has changed

The guideline value for Swamy Vivekananthar Nagar 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which was then decreased to Rs 1,172 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,750 per sq.ft, and the latest revision in 2024 brought it up to Rs 1,925 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2017 to 2023 revision, there was a significant increase of 49%. The 2023 to 2024 revision saw a 10% increase. Overall, from the 2012 to 2024 revisions, the guideline value has increased by 10%.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 1,660 per sq.ft, making the 2024 value for Swamy Vivekananthar Nagar 5th Street above this median.

• Swamy Vivekananthar Nagar 4th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 6th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 3rd Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 7th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 2nd Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 8th Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Swamy Vivekananthar Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value would be Rs 19,25,000. The stamp duty at 7% would amount to Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total cost for these fees to Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Swamy Vivekananthar Nagar 5th Street?

The Sub Registrar Office that covers Swamy Vivekananthar Nagar 5th Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential components of the registration process, and they are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Swamy Vivekananthar Nagar 5th Street?

The current guideline value for Swamy Vivekananthar Nagar 5th Street is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, then to Rs 1,750 per sq.ft in 2023, and finally to Rs 1,925 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Swamy Vivekananthar Nagar 5th Street is Residential Class II Type - I.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,25,000. The stamp duty at 7% is Rs 1,34,750, and the registration fee at 2% is Rs 38,500, totaling Rs 1,73,250.

Which office handles registrations for this street?

The Chennai South Joint I Sub Registrar Office handles registrations for Swamy Vivekananthar Nagar 5th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.