Guideline Value for VIVEKANANDA STREET

Vivekananda Street guideline value

The current guideline value of Vivekananda Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vivekananda Street has changed

The guideline value for Vivekananda Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 538 per sq.ft. This increased to Rs 621 per sq.ft in 2003, marking a 15% rise. In 2007, the value jumped significantly to Rs 1,000 per sq.ft, reflecting a 61% increase. The 2012 revision saw the value remain at Rs 3,200 per sq.ft, which was a decrease of 220% from the previous revision. The 2017 revision recorded a value of Rs 2,144 per sq.ft, indicating a 49% increase from 2012. The most recent revision in 2023 set the value at Rs 3,200 per sq.ft, before the current figure of Rs 3,520 per sq.ft was established in 2024, which is a 10% increase.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value for Vivekananda Street is below this median.

• Visalatchi Nagar 3rd Street: Rs 6,610 per sq.ft (2024)
• Visalatchi Nagar 2nd Street: Rs 6,610 per sq.ft (2024)
• Visalatchi Nagar 1st Street: Rs 6,610 per sq.ft (2024)
• Visalatchi Nagar: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar Main Road: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar 3rd Cross St: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value is Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vivekananda Street?

The Sub Registrar Office covering Vivekananda 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vivekananda Street?

The current guideline value of Vivekananda Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 538 in 2002 to Rs 3,520 in 2024, showing an overall increase of 554% across the years.

What is the registration office for Vivekananda Street?

The registration office for Vivekananda 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.

What are the stamp duty and registration fees for property on Vivekananda Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 35,20,000. The stamp duty at 7% is Rs 2,46,400, and the registration fee at 2% is Rs 70,400, totaling Rs 3,16,800.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. Buyers must pay the higher of the guideline value or the sale price when registering the property.