Guideline Value for Vivek Nagar

Vivek Nagar guideline value

The current guideline value for Vivek Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Vivek Nagar has changed

The guideline value for Vivek Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 76 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 32% rise. The value then rose to Rs 200 per sq.ft in 2007, reflecting a significant 100% increase. By 2012, the value reached Rs 1,000 per sq.ft, showing a remarkable 400% growth from the previous revision. However, this value decreased by 33% to Rs 670 per sq.ft in 2017. The guideline value then increased to Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1347%. It is important to note that the register has no figures for the years between 2002 and 2007, as well as for 2017 to 2023.

Guideline values in Ayappakkam

In Ayappakkam village, there are 221 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for Vivek Nagar is below this median.

• V.O.C. Cross Street (Jayaram nagar): Rs 1,100 per sq.ft (2024)
• V.O.C. Nagar: Rs 1,100 per sq.ft (2024)
• Vivekananda Nagar: Rs 1,100 per sq.ft (2024)
• V.O.C.nagar 1st street: Rs 1,100 per sq.ft (2024)
• V.O.C. nagar 2nd street: Rs 1,100 per sq.ft (2024)
• V.O.C. Street (Iyappa nagar): Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vivek Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vivek Nagar?

The Sub Registrar Office that covers Vivek Nagar 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 more details.

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

The guideline value is a crucial factor in property transactions in Ayappakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When purchasing property, the buyer must pay stamp duty 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?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 76 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 1347% over this period.

What are the stamp duty rates for property in Vivek Nagar?

The stamp duty rate for property in Vivek Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Vivek Nagar?

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

What is the median guideline value in Ayappakkam?

The median guideline value in Ayappakkam is Rs 1,300 per sq.ft, with Vivek Nagar's current value being below this median at Rs 1,100 per sq.ft.