Guideline Value for Vivekanadar Street (Near Chandrasekaran Street)

Vivekanadar Street (Near Chandrasekaran Street) guideline value

The current guideline value of Vivekanadar Street (Near Chandrasekaran Street) is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Vivekanadar Street (Near Chandrasekaran Street) has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 486 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 65%. In 2012, the value was revised to Rs 2,500 per sq.ft, reflecting a substantial increase of 213%. However, this figure dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 2,500 per sq.ft in 2023, and finally, the current value is Rs 2,750 per sq.ft as of the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there is no recorded figure for this street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 466%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 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 value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Vivekanadar Street (Near Chandrasekaran Street) below this median.

• Vivekanadar Street (Gandhi Nagar inside): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Kolappan Street): Rs 2,750 per sq.ft (2024)
• Vivekanada Cross Street: Rs 3,300 per sq.ft (2024)
• Vivekanada Street: Rs 3,300 per sq.ft (2024)
• Vivekanada Street Extn.: Rs 2,750 per sq.ft (2024)
• Viswanathan Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanadar Street (Near Chandrasekaran Street)

For a 1,000 sq.ft plot at the current guideline rate of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekanadar Street (Near Chandrasekaran Street)?

The Vivekanadar Street (Near Chandrasekaran Street) falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This value is essential for legal documentation and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vivekanadar Street (Near Chandrasekaran Street)?

The current guideline value of Vivekanadar Street (Near Chandrasekaran Street) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, a 10% increase.

What was the guideline value in 2017?

The guideline value in 2017 was Rs 1,675 per sq.ft, which was a decrease from Rs 2,500 per sq.ft in 2012.

Where can I find the registration office for this street?

The registration office for Vivekanadar Street (Near Chandrasekaran Street) is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Vivekanadar Street (Near Chandrasekaran Street)?

The land classification for Vivekanadar Street (Near Chandrasekaran Street) is Residential Class II Type - I.