Guideline Value for VIVEKANTHA NAGAR

Vivekantha Nagar guideline value

The current guideline value of Vivekantha Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Kilkaranai village under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Vivekantha Nagar has changed

The guideline value for Vivekantha Nagar has undergone several revisions since 2012. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. The value then increased to Rs 1,000 per sq.ft in the 2023 revision, and subsequently rose to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a 10% increase. The register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Kilkaranai

In Kilkaranai, there are 12 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,870 per sq.ft. The median value is Rs 1,100 per sq.ft, which is the same as the current guideline value for Vivekantha Nagar. Below are the guideline values for other streets in Kilkaranai:

• 1st Cross Street: Rs 1,100 per sq.ft (2024)
• 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Thirukatchur Flats: Rs 1,320 per sq.ft (2024)
• School Street: Rs 1,100 per sq.ft (2024)
• Muthumariamman Koil Street: Rs 1,100 per sq.ft (2024)
• Mettu Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekantha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty, charged at 7%, would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekantha Nagar?

The Vivekantha Nagar area 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 Kilkaranai

The guideline value plays a crucial role during the registration of property transactions in Kilkaranai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is used to assess the fees based on the property's value. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Vivekantha Nagar?

The current guideline value of Vivekantha Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Vivekantha Nagar?

Vivekantha Nagar is classified as Residential Special Type - II under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property in Vivekantha Nagar?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 11,00,000, the total fees would be Rs 99,000.

Where is the Sub Registrar Office for Vivekantha Nagar located?

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