Guideline Value for VIVEKANANDHA 4TH CROSS STREET

Vivekanandha 4th Cross Street guideline value

The current guideline value of Vivekanandha 4th 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 4th Cross Street has changed

The guideline value for Vivekanandha 4th Cross Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and most recently, it has risen to Rs 1,110 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The revisions for the years 2002, 2003, and 2007 do not have any figures available for this street in the register.

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 guideline value for these streets is Rs 1,650 per sq.ft, placing Vivekanandha 4th Cross Street's 2024 figure below this median.

• Vivekanandha 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 2nd 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)
• Viyasar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandha 4th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,110 per sq.ft, the 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, totaling 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 also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Vivekanandha 4th Cross Street?

The Vivekanandha 4th Cross Street is covered by 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. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Pallikaranai. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on an official valuation rather than the sale price alone.

It is essential for buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process. This helps in maintaining transparency and adherence to legal requirements in property transactions.

Frequently asked questions

What is the current guideline value for Vivekanandha 4th Cross Street?

The current guideline value for Vivekanandha 4th 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 to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,110 per sq.ft in 2024.

What is the median guideline value in Pallikaranai?

The median guideline value for streets in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value for Vivekanandha 4th Cross Street.

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

For a property valued at Rs 11,10,000, the stamp duty would be Rs 77,700, and the registration fee would be Rs 22,200, totaling Rs 99,900.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Vivekanandha 4th Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.