Guideline Value for VIVEKANTHAR STREET

Vivekanthar Street guideline value

The current guideline value of Vivekanthar Street in Jelandianpettai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Vivekanthar Street has changed

The guideline value for Vivekanthar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

In summary, the changes between the revisions are noteworthy: from 2012 to 2017, there was a decrease of 33%, followed by a 49% increase from 2017 to 2023, and an overall increase of 10% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which aligns with the current guideline value of Vivekanthar Street.

• V.O.C. Street: Rs 2,200 per sq.ft (2024)
• Vignaeswara Nagar Phase I & II: Rs 2,750 per sq.ft (2024)
• Vidhyapalli Street: Rs 2,200 per sq.ft (2024)
• V.G.P.Amaravathi Nagar: Rs 2,750 per sq.ft (2024)
• Venkadesan Street: Rs 2,200 per sq.ft (2024)
• Veerathamman Koil West Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanthar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vivekanthar Street?

The Sub Registrar Office responsible for Vivekanthar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value will be used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Vivekanthar Street?

The current guideline value of Vivekanthar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Vivekanthar Street?

Vivekanthar Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Vivekanthar Street?

The Sub Registrar Office for Vivekanthar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035, Chennai registration zone.

How is stamp duty calculated for properties in Vivekanthar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.