Guideline Value for Vivekananda Nagar 2nd Main Road

Vivekananda Nagar 2nd Main Road guideline value

The current guideline value of Vivekananda Nagar 2nd Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vivekananda Nagar 2nd Main Road has changed

Over the years, the guideline value of Vivekananda Nagar 2nd Main Road has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,700 per sq.ft from the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but then increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects an increase of 8%. Overall, when comparing the values from 2012 to 2024, there is a net increase of 8%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Vivekananda Nagar 2nd Main Road above this median with its current value of Rs 2,700 per sq.ft.

• Vivekananda Nagar 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Vivekanantha Nagar: Rs 2,700 per sq.ft (2024)
• Vivekanantha Nagar Vaigai Street: Rs 2,700 per sq.ft (2024)
• Vivekanantha Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Vivekanantha Street (Vivekanantha Nagar): Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Extension: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Nagar 2nd Main Road

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. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekananda Nagar 2nd Main Road?

The Vivekananda Nagar 2nd Main Road falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial reference point when buying or selling property in Thirumullaivoyal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher value will be used for duty calculations.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, thereby maintaining transparency in property dealings. It is essential for both parties to understand the implications of the guideline value in their transactions.

Frequently asked questions

What is the current guideline value of Vivekananda Nagar 2nd Main Road?

The current guideline value of Vivekananda Nagar 2nd Main Road 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 to Rs 2,500 per sq.ft in 2023, and now to Rs 2,700 per sq.ft in 2024.

What is the land classification for Vivekananda Nagar 2nd Main Road?

The land classification for Vivekananda Nagar 2nd Main Road is Residential Special Type - II.

Where can I find the registration office for this area?

The registration office for Vivekananda Nagar 2nd Main Road is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,89,000.