Guideline Value for Vivakanantha Street

Vivakanantha Street guideline value

The current guideline value of Vivakanantha Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Vivakanantha Street has changed

The guideline value for Vivakanantha Street has undergone several revisions over the years. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,300 per sq.ft in 2012. However, there was a decrease to Rs 1,541 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 2,300 per sq.ft, and the latest revision in 2024 has further increased it to Rs 2,530 per sq.ft.

In terms of percentage changes, the guideline value rose by 10% from 2023 to 2024. From 2017 to 2023, it saw a substantial increase of 49%. The 2012 to 2017 period experienced a decrease of 33%, while the jump from 2007 to 2012 was remarkable at 283%. Overall, from 2007 to 2024, the guideline value has increased by 322%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Vivakanantha Street is above this median.

• Vivekanandan Street (Vallalar Street): Rs 2,530 per sq.ft (2024)
• Viyasar Street: Rs 1,320 per sq.ft (2024)
• Vvs Iyer Street: Rs 2,530 per sq.ft (2024)
• Yamuna Street: Rs 2,200 per sq.ft (2024)
• Vijayarengan Street: Rs 2,530 per sq.ft (2024)
• Yathaval Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Vivakanantha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivakanantha Street?

The Sub Registrar Office that covers Vivakanantha Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value plays a crucial role in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps in maintaining transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Vivakanantha Street?

The current guideline value of Vivakanantha Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, showing a significant increase over the years.

What is the land classification for Vivakanantha Street?

Vivakanantha Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

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

The Sub Registrar Office for Vivakanantha Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vivakanantha Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 25,30,000 would incur a stamp duty of Rs 1,77,100.