Guideline Value for Vivek Nagar Ramasamy Mudali Street

Vivek Nagar Ramasamy Mudali Street guideline value

The current guideline value of Vivek Nagar Ramasamy Mudali Street is Rs 5,100 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Vivek Nagar Ramasamy Mudali Street has changed

Over the years, the guideline value for Vivek Nagar Ramasamy Mudali Street has seen several revisions. The 2012 revision set the value at Rs 4,700 per sq.ft, which then decreased to Rs 3,149 per sq.ft in the 2017 revision, marking a decline of 33%. In the subsequent 2023 revision, the value rose significantly to Rs 4,700 per sq.ft, and in the latest 2024 revision, it increased further to Rs 5,100 per sq.ft, reflecting a 9% rise from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 9%. The 2023 to 2024 revision shows a change of 9%, while the increase from 2017 to 2023 was a notable 49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ambattur

In Ambattur village, there are 448 streets under the Ambattur SRO that have a guideline value for 2024, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, placing the Vivek Nagar Ramasamy Mudali Street's 2024 figure above this median.

• Vivek Nagar Varathammal Street: Rs 5,100 per sq.ft (2024)
• Vivek Nagar: Rs 5,100 per sq.ft (2024)
• V.O.C. Street (M.K.B. nagar): Rs 2,200 per sq.ft (2024)
• V.O.C Street (Venkatapuram): Rs 3,600 per sq.ft (2024)
• Vinobaji Street: Rs 3,600 per sq.ft (2024)
• West park Street (Venkatapuram): Rs 5,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vivek Nagar Ramasamy Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,100 per sq.ft, the total guideline value would be Rs 51,00,000. The stamp duty at 7% would amount to Rs 3,57,000, and the registration fee at 2% would be Rs 1,02,000, making the total cost for these fees Rs 4,59,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivek Nagar Ramasamy Mudali Street?

The Vivek Nagar Ramasamy Mudali Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ambattur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating property prices to ensure compliance with legal requirements during registration.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vivek Nagar Ramasamy Mudali Street?

The current guideline value of Vivek Nagar Ramasamy Mudali Street is Rs 5,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,700 per sq.ft in 2012 to Rs 3,149 per sq.ft in 2017, then increased to Rs 4,700 per sq.ft in 2023, and finally to Rs 5,100 per sq.ft in 2024.

What is the classification of the land on Vivek Nagar Ramasamy Mudali Street?

The land classification for Vivek Nagar Ramasamy Mudali Street is Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Vivek Nagar Ramasamy Mudali Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 51,00,000 would incur a stamp duty of Rs 3,57,000 at 7%.