Guideline Value for Vivekanada Street

Vivekanada Street guideline value

The current guideline value of Vivekanada Street in Hastinapuram village is Rs 3,850 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Mixed Type - II land.

How the guideline value of Vivekanada Street has changed

The guideline value of Vivekanada Street has seen several revisions over the years. In the 2007 revision, the rate was Rs 400 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 775%. However, in the 2017 revision, the value dropped to Rs 2,345 per sq.ft, reflecting a decrease of 33%. The 2023 revision set the value at Rs 3,500 per sq.ft, which then increased to Rs 3,850 per sq.ft in the 2024 revision, representing a 10% increase.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 863%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft, with a median value of Rs 2,970 per sq.ft. Vivekanada Street's 2024 guideline value is above this median.

• Vivek Nagar: Rs 2,970 per sq.ft (2024)
• V.O.C 1st Street & 2nd Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 9th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 8th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 7th Street: Rs 2,970 per sq.ft (2024)
• Vinobaji Nagar 6th Street: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would amount to Rs 77,000. Together, the total cost for stamp duty and registration would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanada Street?

The Sub Registrar Office that covers Vivekanada Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process of property transactions in Hastinapuram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivekanada Street?

The current guideline value of Vivekanada Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 863% over the years.

What is the land classification of Vivekanada Street?

Vivekanada Street is classified as Mixed Type - II land, according to the Pallavaram SRO guidelines.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vivekanada Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.