Guideline Value for VIVEKANANTHAR STREET

Vivekananthar Street guideline value

The current guideline value of Vivekananthar Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vivekananthar Street has changed

The guideline value for Vivekananthar Street has undergone several revisions over the years. In 2002, the value was Rs 264 per sq.ft, which increased to Rs 298 per sq.ft in 2003, marking a 13% rise. Following this, the value saw a significant increase to Rs 600 per sq.ft in 2007, representing a 101% change. The 2012 revision brought the value back to Rs 2,500 per sq.ft, a notable increase of 317% from the previous revision.

In 2017, the guideline value was set at Rs 1,675 per sq.ft, which was a decrease of 33% from 2012. The next revision in 2023 saw the value rise to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year. There are no figures available for the years not mentioned in the register.

Guideline values in Perungudi

Perungudi village currently has 249 streets under the Neelankarai SRO with a guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Vivekananthar Street's 2024 figure below this median.

• V.O.C. Street: Rs 2,800 per sq.ft (2024)
• Vinayaga Estate Salai: Rs 3,300 per sq.ft (2024)
• Vinayaga Avenue: Rs 3,300 per sq.ft (2024)
• Villiar Medu: Rs 1,100 per sq.ft (2024)
• Vijayendra Nagar: Rs 3,300 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananthar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value is Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost to Rs 2,52,000. It is important to note that the 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?

The Vivekananthar Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vivekananthar Street?

The current guideline value of Vivekananthar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 264 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 961% over this period.

What are the other streets in Perungudi with their guideline values?

Other streets in Perungudi include V.O.C. Street at Rs 2,800 per sq.ft, Vinayaga Estate Salai and Vinayaga Avenue at Rs 3,300 per sq.ft, Villiar Medu at Rs 1,100 per sq.ft, and Vijayendra Nagar and Vembuliamman Koil Street at Rs 3,300 per sq.ft.

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 are stamp duty and registration fees calculated?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. This ensures that the fees are based on the appropriate value of the property being registered.