Guideline Value for VIVEKANANDHA 1ST CROSS STREET/NAGAR

Vivekanandha 1st Cross Street/Nagar guideline value

The current guideline value for Vivekanandha 1st Cross Street/Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Vivekanandha 1st Cross Street/Nagar has changed

The guideline value for Vivekanandha 1st Cross Street/Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, which set the value at Rs 1,000 per sq.ft. In 2017, the value decreased to Rs 670 per sq.ft, marking a decline of 33%. However, the most recent 2024 revision saw a significant increase to Rs 1,110 per sq.ft, reflecting a rise of 66% from the 2017 figure. Notably, the overall change from 2012 to 2024 indicates a slight increase of 11%.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for this street. This lack of data highlights the fluctuations in guideline values over time, with the most significant changes occurring between the 2017 and 2024 revisions.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values in 2024 ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that the value for Vivekanandha 1st Cross Street/Nagar is below this median.

• Vivekanandha 1st Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 2nd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 4th Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekananda Street: Rs 1,320 per sq.ft (2024)
• VIVEKANANDA NAGAR 9thMAIN ROAD: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandha 1st Cross Street/Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, while the registration fee at 2% would be Rs 22,200. Together, these fees would total Rs 99,900. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanandha 1st Cross Street/Nagar?

The Vivekanandha 1st Cross Street/Nagar falls under the jurisdiction of the Chennai South Joint I Sub Registrar Office. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pallikaranai. It serves as a basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable duties and fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Vivekanandha 1st Cross Street/Nagar?

The current guideline value for Vivekanandha 1st Cross Street/Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then to Rs 1,110 per sq.ft in 2024. This represents a decrease of 33% from 2012 to 2017, followed by an increase of 66% from 2017 to 2024.

What is the land classification for Vivekanandha 1st Cross Street/Nagar?

The land classification for Vivekanandha 1st Cross Street/Nagar is Residential Class IV Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 11,10,000, the total fees would amount to Rs 99,900.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Vivekanandha 1st Cross Street/Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.