Guideline Value for Vivegananthan Street

Vivegananthan Street guideline value

The current guideline value of Vivegananthan Street is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village, under the Thiruvottiyur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Vivegananthan Street has changed

The guideline value for Vivegananthan Street has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012. However, it dropped to Rs 1,139 per sq.ft in 2017 before rising again to Rs 1,700 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,800 per sq.ft.

Looking at the percentage changes, the value increased by 580% from 2007 to 2012, then decreased by 33% from 2012 to 2017. There was a significant rise of 49% from 2017 to 2023, followed by a 6% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 620%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, making the 2024 figure for Vivegananthan Street above that median.

• V.G.N Paradise: Rs 5,800 per sq.ft (2024)
• Vasantham Colony: Rs 1,400 per sq.ft (2024)
• Varadharaja Perumal Nagar: Rs 3,300 per sq.ft (2024)
• Valluvar Nagar: Rs 1,400 per sq.ft (2024)
• Thiruvotthiyur High Road: Rs 3,800 per sq.ft (2024)
• Thiruveethiyamman Koil Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vivegananthan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total charges to Rs 1,62,000. 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 Vivegananthan Street?

The Vivegananthan Street falls under the Thiruvottiyur Sub Registrar Office located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the base value for calculating stamp duty and registration fees. When buying or selling property in Ernavur, the guideline value helps ensure that the transaction is recorded accurately with the appropriate authorities.

It is crucial to be aware of the guideline value at the time of registration, as it can affect the overall costs associated with the property transaction. Buyers and sellers should consult the latest figures to understand their financial obligations fully.

Frequently asked questions

What is the current guideline value of Vivegananthan Street?

The current guideline value of Vivegananthan Street is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Vivegananthan Street?

The land classification for Vivegananthan Street is Residential Special Type - II.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated in Ernavur?

Stamp duty in Ernavur is calculated based on the higher of the guideline value or the sale price of the property. It generally amounts to 7% of the guideline value.