Guideline Value for VIVEKANANTHA NAGAR ANNEX II

Vivekanantha Nagar Annex II guideline value

The current guideline value of Vivekanantha Nagar Annex II is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this locality is Residential Special Type - III.

How the guideline value of Vivekanantha Nagar Annex II has changed

The guideline value for Vivekanantha Nagar Annex II has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 3,000 per sq.ft. Prior to that, the value remained unchanged at Rs 3,000 per sq.ft during the 2012 revision. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 10%. The consistent value of Rs 3,000 per sq.ft between the 2012 and 2023 revisions indicates stability in this period, while the increase in 2024 reflects a notable adjustment in the guideline value.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing the 2024 guideline value of Vivekanantha Nagar Annex II above this median.

• Vivekanantha Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Vivekanantha Nagar Extension: Rs 3,300 per sq.ft (2024)
• Vivekanantha Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Vivekanantha Nagar (Madhanakuppam): Rs 2,100 per sq.ft (2024)
• Vivekanantha Nagar: Rs 3,300 per sq.ft (2024)
• Vivekanantha Nagar Main Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanantha Nagar Annex II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanantha Nagar Annex II?

The Vivekanantha Nagar Annex II area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a critical factor when registering property in Korattur. It determines 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 serves as a benchmark for the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher value between the guideline value and the actual sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vivekanantha Nagar Annex II?

The current guideline value of Vivekanantha Nagar Annex II is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has increased by 10%, from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. The value remained unchanged at Rs 3,000 per sq.ft from 2012 to 2023.

What are the other streets in Korattur with similar guideline values?

Other streets in Korattur with the same guideline value of Rs 3,300 per sq.ft include Vivekanantha Nagar 2nd Street, Vivekanantha Nagar Extension, and Vivekanantha Nagar 1st Street.

What is the registration fee for property in Vivekanantha Nagar Annex II?

The registration fee for property in Vivekanantha Nagar Annex II is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for Vivekanantha Nagar Annex II?

The Sub Registrar Office covering Vivekanantha Nagar Annex II is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.