Guideline Value for Vivek Nagar Varathammal Street

Vivek Nagar Varathammal Street guideline value

The current guideline value of Vivek Nagar Varathammal Street is Rs 5,100 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vivek Nagar Varathammal Street has changed

The guideline value for Vivek Nagar Varathammal Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 4,700 per sq.ft. This figure saw a decrease to Rs 3,149 per sq.ft in the 2017 revision, marking a decline of 33%. Subsequently, the value increased significantly to Rs 4,700 per sq.ft in 2023, and then rose again to Rs 5,100 per sq.ft in the 2024 revision, reflecting an increase of 9% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%, showcasing the fluctuations in property values over the years.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO, with guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, placing the 2024 figure for Vivek Nagar Varathammal Street above this median.

• Vivek Nagar Ramasamy Mudali 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 Varathammal 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, bringing the total costs together to Rs 4,59,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Vivek Nagar Varathammal Street?

The Sub Registrar Office that covers Vivek Nagar Varathammal Street is 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Ambattur. It serves as a reference point for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the authorities.

Frequently asked questions

What is the current guideline value of Vivek Nagar Varathammal Street?

The current guideline value of Vivek Nagar Varathammal 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 2023 to Rs 5,100 per sq.ft in 2024, which is an increase of 9%. It was Rs 3,149 per sq.ft in 2017 and Rs 4,700 per sq.ft in 2012, showing fluctuations in the values over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 51,00,000, the stamp duty would be Rs 3,57,000, and the registration fee would be Rs 1,02,000, totaling Rs 4,59,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Ambattur Sub Registrar Office located?

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

What is the land classification for Vivek Nagar Varathammal Street?

The land classification for Vivek Nagar Varathammal Street is Residential Special Type - I, indicating its designated use for residential purposes.