Guideline Value for Vivekanadha Street

Vivekanadha Street guideline value

The current guideline value of Vivekanadha Street in Nanmangalam village is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Vivekanadha Street has changed

The guideline value for Vivekanadha Street has seen several revisions over the years. In 2002, the guideline value was Rs 104 per sq.ft. This increased to Rs 147 per sq.ft in 2003, marking a rise of 41%. The value then jumped significantly to Rs 350 per sq.ft in 2007, an increase of 138%. Following this, in 2012, the value was revised to Rs 1,800 per sq.ft, which represented a substantial increase of 414%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a decline of 33%. The next revision in 2023 saw the value rise to Rs 1,800 per sq.ft, and finally, the current value as of 2024 is Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,804%. There are no figures available for the revisions in years other than those listed.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. Vivekanadha Street's current guideline value is below this median.

• Visuvasan Street: Rs 2,750 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 3,300 per sq.ft (2024)
• Vigneswara Avenue: Rs 1,980 per sq.ft (2024)
• Vignesh Nagar: Rs 2,750 per sq.ft (2024)
• Vidhiyalingam Nagar: Rs 2,750 per sq.ft (2024)
• Veerapandi Nagar 1 To 8 Streets: Rs 1,960 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanadha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanadha Street?

The Vivekanadha Street is covered by 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value. 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 Vivekanadha Street?

The current guideline value of Vivekanadha Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 104 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Vivekanadha Street?

Vivekanadha Street is classified as Residential Class I Type - III.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles the registration for Vivekanadha Street?

The registration for Vivekanadha Street is handled by the Pallavaram Sub Registrar Office, located in Chennai, Tamil Nadu.