Guideline Value for VIVEKANANDA NAGAR

Vivekananda Nagar guideline value

The current guideline value of Vivekananda Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Panchetty village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vivekananda Nagar has changed

Since the 2012 revision, the guideline value for Vivekananda Nagar has seen various changes. In 2012, the guideline value was Rs 400 per sq.ft, which remained unchanged until the 2023 revision. The 2017 revision recorded a decrease to Rs 268 per sq.ft, but this was followed by a significant increase of 49% to Rs 400 per sq.ft in 2023. The 2024 revision also maintains this value at Rs 400 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 400 per sq.ft, showing no net change despite fluctuations in earlier years.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,600 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Vivekananda Nagar's current value below this median.

• White City: Rs 1,400 per sq.ft (2024)
• White City Annex: Rs 1,400 per sq.ft (2024)
• Udaiyar Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Udaiyar 2nd Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Udaiyar 1st Cross Street: Rs 1,000 per sq.ft (2024)
• Thatchoor School Salai: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty, charged at 7%, would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000. Together, these fees would total Rs 36,000. 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 Vivekananda Nagar?

The Sub Registrar Office that covers Vivekananda Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Panchetty. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the transaction. Buyers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Vivekananda Nagar?

The current guideline value of Vivekananda Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023 and 2024. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

What is the land classification of Vivekananda Nagar?

Vivekananda Nagar is classified as Residential Class II Type - I. This classification impacts the guideline value and property regulations in the area.

Where can I find the Sub Registrar Office for Vivekananda Nagar?

The Sub Registrar Office for Vivekananda Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.