Guideline Value for VIVEKANANDAR STREET

Vivekanandar Street guideline value

The current guideline value of Vivekanandar Street in Arumbakkam village is Rs 6,000 per sq.ft, effective from 1 July 2024. This street falls under the Kodambakkam SRO and is classified as Residential Special Type - II.

How the guideline value of Vivekanandar Street has changed

Over the years, the guideline value of Vivekanandar Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,350 per sq.ft, which increased substantially to Rs 5,500 per sq.ft in 2012, marking a rise of 307%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 5,500 per sq.ft in 2023, showing a 49% increase before reaching the current value of Rs 6,000 per sq.ft in the 2024 revision, which is a 9% rise from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 344%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, which is equal to the current guideline value of Vivekanandar Street.

• Visalakshi Street: Rs 5,000 per sq.ft (2024)
• Vinayagapuram Main Road: Rs 7,700 per sq.ft (2024)
• Vinayagapuram Ist Street: Rs 5,500 per sq.ft (2024)
• Water Tank Road Cross Street: Rs 7,500 per sq.ft (2024)
• West College Road: Rs 6,000 per sq.ft (2024)
• West Kamarajar Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Vivekanandar Street?

The Sub Registrar Office that covers Vivekanandar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the necessary duties. This ensures that the transaction is appropriately valued in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Vivekanandar Street?

The current guideline value of Vivekanandar Street is Rs 6,000 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 1,350 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 344% over this period.

What is the land classification of Vivekanandar Street?

Vivekanandar Street is classified as Residential Special Type - II under the Kodambakkam SRO.

Where can I find the Sub Registrar Office for Vivekanandar Street?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in Vivekanandar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at 7%.