Guideline Value for VIVEKANDAR NAGAR

Vivekandar Nagar guideline value

The current guideline value of Vivekandar Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Vivekandar Nagar has changed

Since the 2012 revision, the guideline value has seen several changes. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, a rise of 49%. The latest revision in 2024 shows a further increase to Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

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

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, making Vivekandar Nagar's 2024 figure above that median.

• Vivekandar Nagar Extension: Rs 3,300 per sq.ft (2024)
• V.O.C. Street: Rs 2,900 per sq.ft (2024)
• V.I.P Avenue Extension: Rs 2,900 per sq.ft (2024)
• V.I.P. Avenue: Rs 2,900 per sq.ft (2024)
• Vinoba Nagar: Rs 2,700 per sq.ft (2024)
• Wood Row Manor Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekandar Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Please 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 details.

Which Sub Registrar Office covers Vivekandar Nagar?

The Vivekandar Nagar area is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chitthalapakkam

The guideline value plays a crucial role in the registration of property transactions in Chitthalapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property, ensuring that the transaction is officially recorded.

When buying or selling property, the guideline value is referenced to ascertain the minimum value for the transaction. This ensures compliance with legal requirements and helps in the proper documentation of the property transfer.

Frequently asked questions

What is the current guideline value of Vivekandar Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in 2024.

What is the land classification of Vivekandar Nagar?

Vivekandar Nagar is classified as Residential Special Type - III, indicating its suitability for residential development.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Vivekandar Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.