Guideline Value for VIVEKANANDAN STREET

Vivekanandan Street guideline value

The current guideline value of Vivekanandan Street is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Special Type - I.

How the guideline value of Vivekanandan Street has changed

The guideline value of Vivekanandan Street has seen several revisions over the years. In 2002, the value was Rs 1,510 per sq.ft, which increased to Rs 2,850 per sq.ft in 2003, marking an increase of 89%. The value then rose to Rs 4,000 per sq.ft in 2007, reflecting a 40% increase. By 2012, the value was Rs 10,000 per sq.ft, showing a significant increase of 150% from 2007. However, it decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, and finally, it reached Rs 11,000 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 628%. There are no figures available for revisions in years other than those listed.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which is equal to the guideline value of Vivekanandan Street.

• V.O.C. Street: Rs 6,600 per sq.ft (2024)
• Vijayaraghavachari Road Ist Street: Rs 13,200 per sq.ft (2024)
• Vijayaraghava Chari Road: Rs 17,600 per sq.ft (2024)
• Vidyodaya Main Road: Rs 11,000 per sq.ft (2024)
• Vidyodaya Ist Cross Street: Rs 11,000 per sq.ft (2024)
• Vidyodaya Colony 1st Main Road: Rs 11,000 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 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, making the total fees Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vivekanandan Street?

The Sub Registrar Office that covers Vivekanandan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This value is regularly updated to reflect changes in the real estate market, ensuring that it remains relevant for all property transactions.

Frequently asked questions

What is the current guideline value of Vivekanandan Street?

The current guideline value of Vivekanandan Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,510 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, which is the same as the guideline value for Vivekanandan Street.

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

For a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 7,70,000, and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles property registrations for Vivekanandan Street?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Vivekanandan Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.