Guideline Value for Vivekananda 1st Street

Vivekananda 1st Street guideline value

The current guideline value of Vivekananda 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vivekananda 1st Street has changed

The guideline value for Vivekananda 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, when the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, before it increased to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2023 to 2024 reflects an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which matches the current guideline value of Vivekananda 1st Street.

• Vivekananda 2nd Street: Rs 2,700 per sq.ft (2024)
• Vivekanandar Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Vivekananda Street: Rs 2,700 per sq.ft (2024)
• Vivekanandha Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Vivekanandha Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Visalakshi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vivekananda 1st Street?

The Madhavaram Sub Registrar Office covers Vivekananda 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kodungaiyur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations during the registration of property. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vivekananda 1st Street?

The current guideline value of Vivekananda 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Vivekananda 1st Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers Vivekananda 1st Street?

The Madhavaram Sub Registrar Office covers Vivekananda 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Vivekananda 1st Street?

Vivekananda 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential development.