Guideline Value for VIVEKANANDER STREET

Vivekanander Street guideline value

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

How the guideline value of Vivekanander Street has changed

Over the years, the guideline value of Vivekanander Street has seen several revisions. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision. However, this value dropped to Rs 536 per sq.ft in the 2017 revision, before rising again to Rs 800 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The remarkable rise from 2007 to 2012 was 220%. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Vivekanander Street's 2024 figure below this median.

• Viswanathan Street: Rs 800 per sq.ft (2024)
• VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN): Rs 2,000 per sq.ft (2024)
• Vinayakar Koil Street (Ondikuppam): Rs 1,000 per sq.ft (2024)
• V.P.Sindhan Street: Rs 800 per sq.ft (2024)
• Velunachiyar Street: Rs 1,300 per sq.ft (2024)
• Velayutha Reddy Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanander Street

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekanander Street?

The Vivekanander Street is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vengathur. It is used to determine the stamp duty and registration fees that are applicable during the transaction. The guideline value serves as a benchmark for the property value, ensuring that the transaction is recorded accurately.

When registering a property, the guideline value helps in calculating the necessary fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivekanander Street?

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

How has the guideline value changed over the years?

The guideline value has seen various revisions, with significant changes from Rs 250 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, and again to Rs 800 per sq.ft in 2023 and 2024.

What is the land classification for Vivekanander Street?

Vivekanander Street is classified as Residential Class I Type - II under the guideline value register.

What is the stamp duty rate for properties in Vivekanander Street?

The stamp duty rate for properties in Vivekanander Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Vivekanander Street is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.