Guideline Value for Vivakanandar Street

Vivakanandar Street guideline value

The current guideline value of Vivakanandar Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vivakanandar Street has changed

The guideline value for Vivakanandar Street has seen several revisions over the years. In 2007, the value was set at Rs 450 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, before dropping to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision.

From 2007 to 2012, there was a substantial increase of 167%. However, the value decreased by 33% from 2012 to 2017. The most notable change occurred between 2017 and 2023, where the value surged by 49%. Overall, from 2007 to 2024, the guideline value has increased by 189%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vivakanandar Street's 2024 figure below that median.

• Vivekandar Street Ext: Rs 1,300 per sq.ft (2024)
• VOC Street: Rs 2,700 per sq.ft (2024)
• Vijayakumar Avenue: Rs 1,600 per sq.ft (2024)
• V.G.P. Pon Nagar North: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar Main Road: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vivakanandar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for these fees would be Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivakanandar Street?

The Sub Registrar Office that covers Vivakanandar Street is 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 Chembakkam

The guideline value is a crucial factor when registering a property in Chembakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vivakanandar Street?

The current guideline value of Vivakanandar Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 189% over the years.

What are the stamp duty and registration fees for properties on Vivakanandar Street?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Vivakanandar Street?

The Selaiyur Sub Registrar Office covers Vivakanandar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Vivakanandar Street?

The land classification for Vivakanandar Street is Residential Class III Type - I, indicating its suitability for residential purposes.