Guideline Value for VIVEKANDA NAGAR PHASE -3

Vivekanda Nagar Phase -3 guideline value

The current guideline value for Vivekanda Nagar Phase -3 is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thirukkachur - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vivekanda Nagar Phase -3 has changed

Over the years, the guideline value for Vivekanda Nagar Phase -3 has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the latest 2024 revision brought it up to Rs 660 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, representing a 10% change. The overall change from the 2012 figure of Rs 600 per sq.ft to the current 2024 figure is a modest increase of 10% over the twelve-year period.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft. The median value for these streets is Rs 660 per sq.ft, which is equal to the guideline value of Vivekanda Nagar Phase -3.

• V O C Cross Street: Rs 385 per sq.ft (2024)
• V O C Street: Rs 385 per sq.ft (2024)
• Vip Nagar Phase -V: Rs 660 per sq.ft (2024)
• Vip Nagar Phase - IV: Rs 660 per sq.ft (2024)
• Vip Nagar: Rs 660 per sq.ft (2024)
• West Mada Veedhi: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanda Nagar Phase -3

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, making the total cost for these fees Rs 59,400. 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 Vivekanda Nagar Phase -3?

The Vivekanda Nagar Phase -3 area falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value plays a crucial role during the registration of property transactions in Thirukkachur - 1. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold, ensuring that the transaction is officially recorded.

When registering a property, the buyer must pay the stamp duty 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 Vivekanda Nagar Phase -3?

The current guideline value of Vivekanda Nagar Phase -3 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 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the median guideline value in Thirukkachur - 1?

The median guideline value in Thirukkachur - 1 is Rs 660 per sq.ft, which is the same as the current value for Vivekanda Nagar Phase -3.

What are the stamp duty rates for properties in Vivekanda Nagar Phase -3?

The stamp duty rate for properties in Vivekanda Nagar Phase -3 is 7% of the guideline value, while the registration fee is 2% of the guideline value.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the relevant link.