Guideline Value for Vivek Nagar

Vivek Nagar guideline value

The current guideline value of Vivek Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Vivek Nagar has changed

The guideline value for Vivek Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 193 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2007, marking a change of +263%. By 2012, the value remained at Rs 2,000 per sq.ft, and there was no change recorded until 2023. The 2023 revision set the value at Rs 2,000 per sq.ft, with no percentage increase from the previous figure.

The most recent revision in 2024 saw the guideline value rise to Rs 2,200 per sq.ft, reflecting a +10% increase from the 2023 figure. Overall, from 2003 to 2024, the guideline value has increased by +1040%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, positioning Vivek Nagar's 2024 guideline value below this median.

• Vivekanandha Nagar: Rs 2,200 per sq.ft (2024)
• Vivekananda Street (Ramakrishna Nagar): Rs 2,200 per sq.ft (2024)
• V.O.C. Street: Rs 2,700 per sq.ft (2024)
• Vinobha Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vinobaba Nagar: Rs 2,200 per sq.ft (2024)
• V.P. Sindhan Nagar: Rs 2,700 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vivek Nagar?

The Vivek Nagar area falls under the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivek Nagar?

The current guideline value of Vivek Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 193 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +1040% over the years.

What are the stamp duty and registration fees for property in Vivek Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which SRO covers Vivek Nagar?

The Sembiam Sub Registrar Office covers Vivek Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, with Vivek Nagar's value being below this median.