Guideline Value for Vivekananadar Nagar Annex-1

Vivekananadar Nagar Annex-1 guideline value

The current guideline value of Vivekananadar Nagar Annex-1 is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Vijayanallur village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Vivekananadar Nagar Annex-1 has changed

The guideline value for Vivekananadar Nagar Annex-1 has seen several revisions over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The most recent revisions show a significant increase, with the value rising to Rs 500 per sq.ft in 2023 and further to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vijayanallur

In Vijayanallur, there are 19 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 540 per sq.ft, placing Vivekananadar Nagar Annex-1 above this median.

• Vijaya Garden: Rs 440 per sq.ft (2024)
• Varthaman Nagar: Rs 440 per sq.ft (2024)
• Vardhaman Nagar Extension: Rs 440 per sq.ft (2024)
• Tata Nagar Extn.: Rs 550 per sq.ft (2024)
• Tata Nagar: Rs 550 per sq.ft (2024)
• Sri Sai Garden: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananadar Nagar Annex-1

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total cost of Rs 49,500. 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 Vivekananadar Nagar Annex-1?

The Vivekananadar Nagar Annex-1 falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vijayanallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps determine the amount payable for registration. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vivekananadar Nagar Annex-1?

The current guideline value of Vivekananadar Nagar Annex-1 is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, marking an overall increase of 83% over the years.

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

Other streets in Vijayanallur include Vijaya Garden, Varthaman Nagar, Vardhaman Nagar Extension, Tata Nagar Extn., Tata Nagar, and Sri Sai Garden, with values ranging from Rs 440 to Rs 550 per sq.ft in 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office handles property registrations for Vivekananadar Nagar Annex-1?

The Redhills Sub Registrar Office handles property registrations for Vivekananadar Nagar Annex-1, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.