Guideline Value for VIVEKANANDHAR SALAI

Vivekanandhar Salai guideline value

The current guideline value of Vivekanandhar Salai is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vivekanandhar Salai has changed

The guideline value for Vivekanandhar Salai has seen several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 111 per sq.ft. This value increased significantly to Rs 500 per sq.ft in 2007, followed by a remarkable jump to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017. The latest figures show an increase to Rs 4,000 per sq.ft in 2023, and then a further rise to Rs 4,400 per sq.ft in 2024. Notably, there is no figure available for the year 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a substantial 700%. The rise from 2003 to 2007 was 350%. Overall, from 2003 to 2024, the guideline value has increased by 3864%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Vivekanandhar Salai's 2024 figure above this median.

• V.O.C. Nagar: Rs 3,900 per sq.ft (2024)
• Vinayak Avenue: Rs 3,300 per sq.ft (2024)
• Vinayagar Nagar 1st Cross Street: Rs 5,500 per sq.ft (2024)
• Vinayagar Koil Street (Near V.P.G.Avenue): Rs 3,900 per sq.ft (2024)
• V.O.C. Street: Rs 4,400 per sq.ft (2024)
• V.P.G Avenue 1 St Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandhar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vivekanandhar Salai?

The Vivekanandhar Salai is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your nearest SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is taken into account to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Vivekanandhar Salai?

The current guideline value of Vivekanandhar Salai is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 111 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 3864% over this period.

What is the land classification for Vivekanandhar Salai?

Vivekanandhar Salai is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Vivekanandhar Salai?

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 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.