Guideline Value for VIVEKANANDAN STREET

Vivekanandan Street guideline value

The current guideline value of Vivekanandan Street is Rs 3,700 per sq.ft. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Vivekanandan Street has changed

The guideline value for Vivekanandan Street has seen several revisions over the years. In 2002, the guideline value was Rs 307 per sq.ft, which increased to Rs 361 per sq.ft in 2003. Following that, the value rose significantly to Rs 900 per sq.ft in 2007, marking a 149% increase from the previous year. The value then jumped to Rs 3,400 per sq.ft in 2012, reflecting a 278% increase. However, it decreased to Rs 2,278 per sq.ft in 2017, a drop of 33%. The guideline value then rose again to Rs 3,400 per sq.ft in 2023, before reaching the current value of Rs 3,700 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1105%. The register does not have figures for revisions in the years not listed above.

Guideline values in Thiruvottiyur

In Thiruvottiyur village, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Vivekanandan Street's 2024 figure above this median.

• V.O.C. Nagar: Rs 1,900 per sq.ft (2024)
• Vinayagapuram: Rs 2,800 per sq.ft (2024)
• Village Street: Rs 3,700 per sq.ft (2024)
• West Kulakkarai Street: Rs 3,700 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)
• Verkadalai Cheri: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value is Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would amount to Rs 74,000, bringing the total cost to Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vivekanandan Street?

The Sub Registrar Office that covers Vivekanandan Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vivekanandan Street?

The current guideline value of Vivekanandan Street is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 307 per sq.ft in 2002 to Rs 3,700 per sq.ft in 2024, representing an overall increase of 1105%.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 37,00,000. The stamp duty would be Rs 2,59,000, and the registration fee would be Rs 74,000, totaling Rs 3,33,000.

Which Sub Registrar Office covers Vivekanandan Street?

The Thiruvottiyur Sub Registrar Office covers Vivekanandan Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Vivekanandan Street?

The land classification for Vivekanandan Street is Mixed Special Type - II.