Guideline Value for VIVEKANANDA STREET

Vivekananda Street guideline value

The current guideline value of Vivekananda Street in Pallikaranai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Vivekananda Street has changed

The guideline value of Vivekananda Street has seen significant changes over the years. In 2002, the guideline value was Rs 79 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 27% rise. By 2007, the value jumped to Rs 400 per sq.ft, reflecting a 300% increase. The 2012 revision maintained the value at Rs 1,200 per sq.ft, and this figure remained unchanged until 2023. In 2023, the value was again Rs 1,200 per sq.ft, but in 2024, it rose to Rs 1,320 per sq.ft, a 10% increase from the previous year.

There is no figure available for the 2017 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 1571%, illustrating the substantial changes in property valuation over the years.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, placing Vivekananda Street's 2024 figure below that median.

• Vivekanandha 1st Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 1st Cross Street/Nagar: Rs 1,110 per sq.ft (2024)
• Vivekanandha 2nd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 4th Cross Street: Rs 1,110 per sq.ft (2024)
• VIVEKANANDA NAGAR 9thMAIN ROAD: Rs 1,320 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vivekananda Street?

The Vivekananda Street falls under 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 Pallikaranai

The guideline value is a crucial factor in property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivekananda Street?

The current guideline value of Vivekananda Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 79 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, representing an overall increase of 1571%.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value of Vivekananda Street.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Vivekananda Street?

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