Guideline Value for Vivekanadan street

Vivekanadan street guideline value

The current guideline value of Vivekanadan street in Satthankadu village is Rs 3,400 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Special Type - III.

How the guideline value of Vivekanadan street has changed

The guideline value for Vivekanadan street has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This figure saw a significant increase to Rs 3,100 per sq.ft in 2012, marking a rise of 417%. However, from 2012 to 2017, the value decreased to Rs 2,077 per sq.ft, which is a drop of 33%. The value then increased again to Rs 3,100 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,400 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Vivekanadan street. Overall, from 2007 to 2024, the guideline value has increased by 467%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,400 per sq.ft, which is equal to the current guideline value of Vivekanadan street.

• Village Street: Rs 3,400 per sq.ft (2024)
• V.O.C Streets: Rs 3,400 per sq.ft (2024)
• West Mada Street: Rs 3,400 per sq.ft (2024)
• Y.M.C.A. Street: Rs 3,400 per sq.ft (2024)
• Veera raghavan street: Rs 3,400 per sq.ft (2024)
• Vasantha Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanadan street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty, charged at 7%, would be Rs 2,38,000, while the registration fee at 2% would be Rs 68,000. Together, the total cost for these fees would be Rs 3,06,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekanadan street?

The Vivekanadan street falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Satthankadu. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value helps ensure that the property is registered at a fair value, which is essential for both buyers and sellers. It also aids in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vivekanadan street?

The current guideline value of Vivekanadan street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over the years.

What are the other streets in Satthankadu with the same guideline value?

Other streets in Satthankadu with the same guideline value of Rs 3,400 per sq.ft include Village Street, V.O.C Streets, West Mada Street, Y.M.C.A. Street, and Veera raghavan street.

What fees are involved when registering property in Vivekanadan street?

The fees involved in registering property include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vivekanadan street located?

The Sub Registrar Office covering Vivekanadan street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.