Guideline Value for SWAMY VIVEKANANTHAR NAGAR 8TH STREET

Swamy Vivekananthar Nagar 8th Street guideline value

The current guideline value of Swamy Vivekananthar Nagar 8th 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 8th Street has changed

The guideline value for Swamy Vivekananthar Nagar 8th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,750 per sq.ft, which then decreased to Rs 1,172 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,750 per sq.ft in 2023 and further rose to Rs 1,925 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, the guideline value from 2012 to 2024 shows a 10% increase. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing Swamy Vivekananthar Nagar 8th Street above this median.

• Swamy Vivekananthar Nagar 7th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 9th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 6th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 5th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 4th Street: Rs 1,925 per sq.ft (2024)
• Swamy Vivekananthar Nagar 3rd Street: Rs 1,925 per sq.ft (2024)

Stamp duty and registration fee for property in Swamy Vivekananthar Nagar 8th Street

For a property measuring 1,000 sq.ft 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 fees to Rs 1,73,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Swamy Vivekananthar Nagar 8th Street?

The Sub Registrar Office that covers Swamy Vivekananthar Nagar 8th 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 is a crucial factor when buying or selling property in Vanagaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be considered for calculating the duty.

When registering a property, it is essential to provide the correct guideline value to ensure compliance with local regulations. This value helps in maintaining transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Swamy Vivekananthar Nagar 8th Street?

The current guideline value of Swamy Vivekananthar Nagar 8th Street is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen several changes, from Rs 1,750 per sq.ft in 2012 to Rs 1,172 per sq.ft in 2017, followed by Rs 1,750 per sq.ft in 2023, and finally reaching Rs 1,925 per sq.ft in 2024.

What is the land classification for this street?

The land classification for Swamy Vivekananthar Nagar 8th Street is Residential Class II Type - I, indicating its suitability for residential purposes.

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

For a property of 1,000 sq.ft, 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 area?

The Chennai South Joint I Sub Registrar Office handles registrations for Swamy Vivekananthar Nagar 8th Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.