Guideline Value for VIVEKANANDHA 3RD CROSS STREET

Vivekanandha 3rd Cross Street guideline value

The current guideline value of Vivekanandha 3rd Cross Street 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 3rd Cross Street has changed

Over the years, the guideline value for Vivekanandha 3rd Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 670 per sq.ft. The value remained at Rs 1,000 per sq.ft until the 2023 revision, which increased it to Rs 1,110 per sq.ft, marking a significant rise of 49%. The most recent 2024 revision reflects an 11% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Vivekanandha 3rd Cross Street's 2024 figure below that median.

• Vivekanandha 2nd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 4th Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 1st Cross Street/Nagar: Rs 1,110 per sq.ft (2024)
• Vivekanandha 1st 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 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total to Rs 99,900. 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 Vivekanandha 3rd Cross Street?

The Vivekanandha 3rd Cross Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when buying or selling property in Pallikaranai. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable duties.

When registering a property, it is essential to consider the guideline value as it ensures compliance with local regulations and helps in the smooth processing of property transactions. Understanding the guideline value can also assist in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vivekanandha 3rd Cross Street?

The current guideline value of Vivekanandha 3rd Cross Street 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, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,110 per sq.ft in 2024.

What is the land classification for Vivekanandha 3rd Cross Street?

The land classification for Vivekanandha 3rd Cross Street is Residential Class IV Type - III.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Vivekanandha 3rd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Pallikaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,10,000, the stamp duty would be calculated at 7% of this amount.