Guideline Value for V.V. Giri Street (Vivekananda Nagar)

V.V. Giri Street (Vivekananda Nagar) guideline value

The current guideline value of V.V. Giri Street (Vivekananda Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of V.V. Giri Street (Vivekananda Nagar) has changed

The guideline value for V.V. Giri Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. However, from 2017 to the 2024 revision, there has been a significant increase of 61%, bringing the current value to Rs 2,700 per sq.ft. Notably, there are no figures available in the register for the years 2002, 2003, 2007, and 2023.

From 2012 to 2017, the guideline value decreased by 33%. Overall, comparing the values from 2012 to 2024, there has been an increase of 8% in the guideline value per sq.ft.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of V.V. Giri Street.

• Water Tank Lane 1st Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 2nd Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 3th Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 4th Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 5th Street: Rs 2,200 per sq.ft (2024)
• West Avenue Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.V. Giri Street (Vivekananda Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.V. Giri Street (Vivekananda Nagar)?

The Sub Registrar Office that covers V.V. Giri Street (Vivekananda Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is documented accurately. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of V.V. Giri Street?

The current guideline value of V.V. Giri Street (Vivekananda Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then to Rs 2,700 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the stamp duty rate for properties in V.V. Giri Street?

The stamp duty rate for properties in V.V. Giri Street is 7% of the guideline value or the sale price, whichever is higher. This is an important cost to consider when purchasing property.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

What is the land classification of V.V. Giri Street?

V.V. Giri Street (Vivekananda Nagar) is classified under Residential Class I Type - I. This classification indicates the type of development permissible in the area.