Guideline Value for Vivekanadar Street (Near Kolappan Street)

Vivekanadar Street (Near Kolappan Street) guideline value

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

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

The guideline value for Vivekanadar Street (Near Kolappan Street) has seen several revisions over the years. The register reflects the following figures: in 2003, the value was Rs 486 per sq.ft; it increased to Rs 800 per sq.ft in 2007, followed by a significant jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017, before rising again to Rs 2,500 per sq.ft in 2023. The current revision in 2024 has set the guideline value at Rs 2,750 per sq.ft.

Examining the changes, the value increased by 65% from 2003 to 2007, then surged by 213% from 2007 to 2012. After a decline of 33% from 2012 to 2017, it rose by 49% from 2017 to 2023. The most recent revision from 2023 to 2024 reflects a 10% increase. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values 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, placing the 2024 figure for Vivekanadar Street (Near Kolappan Street) below this median.

• 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 Street: Rs 3,300 per sq.ft (2024)
• Vivekanada Cross 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 Kolappan Street)

For a 1,000 sq.ft plot at the current guideline value 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, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that 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 further calculations.

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

The Sub Registrar Office that covers Vivekanadar Street (Near Kolappan 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 more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value as determined by the local authorities. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

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

The current guideline value of Vivekanadar Street (Near Kolappan 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 changed significantly over the years, starting from Rs 486 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024. The most notable change was a 213% increase from 2007 to 2012.

What is the median guideline value for streets in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft, which is higher than the current value of Vivekanadar Street (Near Kolappan Street).

What are the stamp duty and registration fees for property in Vivekanadar Street?

The stamp duty for a property valued at Rs 27,50,000 would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

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

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