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 Vallancheri 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 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. In the 2023 revision, the value increased to Rs 600 per sq.ft, and in the latest 2024 revision, it further rose to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 825 per sq.ft, placing Vivekananthar Street's 2024 figure below this median.

• Vishnupriya Priya Avenue Ninnakarai: Rs 1,650 per sq.ft (2024)
• V.O.C Street (Ward-20): Rs 880 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 660 per sq.ft (2024)
• Vijayalakshmi Nagar Vallancheri (Ward -1): 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, calculated at 7%, would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

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

The Vivekananthar Street (Ward-21) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Vallancheri. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that the government receives the 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 several times, with the most recent increase from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. The value saw a decrease from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, before rising again in subsequent revisions.

What is the land classification for Vivekananthar Street?

Vivekananthar Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vallancheri?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 6,60,000 would incur a stamp duty of Rs 46,200 at a rate of 7%.