Guideline Value for VIVEKANANDAR STREET

Vivekanandar Street guideline value

The current guideline value of Vivekanandar Street in Enjambakkam village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Vivekanandar Street has changed

Over the years, the guideline value of Vivekanandar Street has seen significant changes. The register indicates that in 2003, the guideline value was Rs 173 per sq.ft. This figure increased to Rs 500 per sq.ft in 2007, marking a substantial rise of 189%. The value then surged to Rs 2,500 per sq.ft in 2012, reflecting a dramatic increase of 400%. However, it dropped to Rs 1,675 per sq.ft in 2017, which was a decrease of 33%. Following this, the value rose to Rs 2,500 per sq.ft in 2023, an increase of 49%, and finally reached Rs 2,800 per sq.ft in 2024, showing a growth of 12%.

The register has no figure for this street in 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vivekanandar Street's 2024 figure above this median.

• V.K.Salai Cross: Rs 1,100 per sq.ft (2024)
• V.O.C.Nagar: Rs 2,200 per sq.ft (2024)
• Vinayakar Koil Street (Pillaiyar Koil Street): Rs 2,800 per sq.ft (2024)
• V.O.C Street: Rs 2,200 per sq.ft (2024)
• Vimala Garden: Rs 3,900 per sq.ft (2024)
• V.G.P.Lay Out Part I & II & III: Rs 5,000 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekanandar Street?

The Vivekanandar Street is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Enjambakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This value is determined by the government and is regularly revised to reflect changes in the real estate market.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately with the registration authorities. It is important for both parties to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Vivekanandar Street?

The current guideline value of Vivekanandar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 173 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1518% over the years.

What is the land classification of Vivekanandar Street?

Vivekanandar Street is classified as Residential Class II Type - I under the Neelankarai SRO.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 28,00,000, the total fees would be Rs 2,52,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.