Guideline Value for VIVEKANANDA NAGAR (WARD -18)

Vivekananda Nagar (Ward -18) guideline value

The current guideline value of Vivekananda Nagar (Ward -18) is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Vivekananda Nagar (Ward -18) has changed

The guideline value for Vivekananda Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally, the current value is Rs 1,100 per sq.ft as per the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, then saw a 10% rise from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%. This indicates a fluctuating yet upward trend in the guideline value over the years.

Guideline values in Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Vivekananda Nagar (Ward -18).

• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)
• V.O.C Street (Ward -8): Rs 1,320 per sq.ft (2024)
• V.O.Sithamparanar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Yadavar Street (Ward -19): Rs 550 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Nagar (Ward -18)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, leading to a total of Rs 99,000. 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 Vivekananda Nagar (Ward -18)?

The Vivekananda Nagar (Ward -18) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kattankollatur. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When registering a property, the guideline value helps to establish a fair assessment for taxation purposes. It is essential for both parties in a transaction to be aware of the current guideline value to avoid potential disputes or misunderstandings during the registration process.

Frequently asked questions

What is the current guideline value of Vivekananda Nagar (Ward -18)?

The current guideline value of Vivekananda Nagar (Ward -18) is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Vivekananda Nagar?

The land classification for Vivekananda Nagar (Ward -18) is Residential Class I Type - I.

Which office handles registrations in Vivekananda Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Vivekananda Nagar (Ward -18), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Vivekananda Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.