Guideline Value for Vivakanandar Street

Vivakanandar Street guideline value

The current guideline value of Vivakanandar Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Vivakanandar Street has changed

The guideline value for Vivakanandar Street has undergone several revisions over the years. In 2003, the value was Rs 171 per sq.ft, which increased to Rs 400 per sq.ft in 2007. Following this, the value rose significantly to Rs 700 per sq.ft in 2012, but then decreased to Rs 469 per sq.ft in 2017. The 2023 revision saw a notable increase to Rs 700 per sq.ft, and the latest revision in 2024 has set the value at Rs 770 per sq.ft. The register has no figure for this street in 2002.

From 2003 to 2024, the overall change in guideline value is +350%. The changes between the revisions are as follows: from 2003 to 2007, there was a +134% increase; from 2007 to 2012, a -33% decrease; from 2012 to 2017, a -33% decrease; from 2017 to 2023, a +49% increase; and finally, from 2023 to 2024, a +10% increase.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Vivakanandar Street.

• V.O.C. Street: Rs 770 per sq.ft (2024)
• V.P. Chinthan Street: Rs 660 per sq.ft (2024)
• Videsh Sanchar Nigam Employees Co-Operative Socity: Rs 2,500 per sq.ft (2024)
• Zakir Hussain Street: Rs 770 per sq.ft (2024)
• Veerapandi Street: Rs 660 per sq.ft (2024)
• Veeramamunivar Street: Rs 770 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, making the total fees Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivakanandar Street?

The Sub Registrar Office that covers Vivakanandar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Padiyanallur. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This value is also considered by the authorities to maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Vivakanandar Street?

The current guideline value of Vivakanandar Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over the years.

What is the stamp duty rate for properties in Padiyanallur?

The stamp duty rate for properties in Padiyanallur is 7%, which is applied to the higher of the guideline value or the sale price.

Where can I find the registration office for Vivakanandar Street?

The registration office for Vivakanandar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the other streets in Padiyanallur with guideline values?

Other streets in Padiyanallur include V.O.C. Street, V.P. Chinthan Street, Videsh Sanchar Nigam Employees Co-Operative Socity, Zakir Hussain Street, Veerapandi Street, and Veeramamunivar Street, each with their respective guideline values.