Guideline Value for VIVEKANANTHAR STREET (WARD-21)

Vivekananthar Street (Ward-21) guideline value

The current guideline value of Vivekananthar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Potheri village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vivekananthar Street (Ward-21) has changed

The guideline value for Vivekananthar Street has seen several revisions over the years. The 2024 revision sets the value at Rs 660 per sq.ft, which is an increase from Rs 600 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 402 per sq.ft, reflecting a substantial increase of 49% to the 2023 figure. The 2012 revision also listed the value at Rs 600 per sq.ft, indicating a decrease of 33% when compared to the 2017 revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. This progression highlights the fluctuations in property values over the years, with the most recent figures indicating a stable increase in the guideline value.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, positioning Vivekananthar Street's 2024 figure below this median.

• Vishnupriya Priya Avenue Ninnakarai: Rs 1,651 per sq.ft (2024)
• V.O.C Street (Ward-20): Rs 880 per sq.ft (2024)
• White Town Villas: Rs 2,200 per sq.ft (2024)
• Viknarajapuram Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Yerikkarai Street (Ward -1): Rs 440 per sq.ft (2024)
• Vijayalakshmi Nagar (Ward-21): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananthar Street (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekananthar Street (Ward-21)?

The Sub Registrar Office that covers Vivekananthar Street (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Potheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivekananthar Street (Ward-21)?

The current guideline value of Vivekananthar Street (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing fluctuations in the values over the years.

What is the land classification of Vivekananthar Street?

The land classification for Vivekananthar Street (Ward-21) is Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions here?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vivekananthar Street located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. This office handles the registration of property transactions in the area.