Guideline Value for Vivekanada Street

Vivekanada Street guideline value

The current guideline value of Vivekanada Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Vivekanada Street has changed

The guideline value for Vivekanada Street has undergone several revisions over the years. In 2003, the guideline value was Rs 486 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a significant rise of 65%. The value remained unchanged at Rs 3,000 per sq.ft in both 2012 and 2023. The latest revision in 2024 saw the guideline value increase to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 579%. Notably, there are no figures available for the revisions in 2002 and 2017 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Vivekanada Street.

• Vivekanada Street Extn.: Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Kolappan Street): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Chandrasekaran Street): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Gandhi Nagar inside): Rs 2,750 per sq.ft (2024)
• Vivekanada Cross Street: Rs 3,300 per sq.ft (2024)
• Viswanathan Street: Rs 3,520 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 details.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value ensures transparency and consistency in property transactions within the region.

When buying or selling property, it is essential to refer to the latest guideline value to understand the financial implications of the transaction. This value is set by the Registration Department and is periodically revised to reflect changes in the market.

Frequently asked questions

What is the current guideline value of Vivekanada Street?

The current guideline value of Vivekanada Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 486 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 579%.

What are the other streets in Zaminpallavaram with their guideline values?

Other streets in Zaminpallavaram include Vivekanada Street Extn. at Rs 2,750 per sq.ft, Vivekanadar Street (Near Kolappan Street) at Rs 2,750 per sq.ft, and Vivekanada Cross Street at Rs 3,300 per sq.ft, among others.

What is the stamp duty rate applicable for properties in Vivekanada Street?

The stamp duty rate applicable for properties in Vivekanada Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vivekanada Street?

The Sub Registrar Office for Vivekanada Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more details by visiting the relevant link.