Guideline Value for VIVEKANANDHA NAGAR

Vivekanandha Nagar guideline value

The current guideline value of Vivekanandha Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Thenneri village and falls under the Walajabad SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Vivekanandha Nagar has changed

Over the years, the guideline value of Vivekanandha Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50% back to Rs 250 per sq.ft. The 2024 revision maintained this figure, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the only revisions available are from 2012, 2017, 2023, and 2024, with the current guideline value being consistent since 2023.

Guideline values in Thenneri

In Thenneri village, there are four streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 374 per sq.ft. The median value is Rs 250 per sq.ft, which is equal to the guideline value of Vivekanandha Nagar. The other streets in Thenneri are as follows:

• Selvi Nagar: Rs 250 per sq.ft (2024)
• Royal City: Rs 250 per sq.ft (2024)
• New Electronic City: Rs 374 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, resulting in a total cost of Rs 22,500 for these fees. 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 precise estimates based on your specific property transaction.

Which Sub Registrar Office covers Vivekanandha Nagar?

The Vivekanandha Nagar area is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thenneri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

Frequently asked questions

What is the current guideline value of Vivekanandha Nagar?

The current guideline value of Vivekanandha Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a decrease to Rs 167 per sq.ft in 2017, followed by a return to Rs 250 per sq.ft in 2023 and 2024.

What are the stamp duty rates for property in Vivekanandha Nagar?

The stamp duty rate for property transactions in Vivekanandha Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. These fees are based on the higher of the guideline value or the sale price.