Guideline Value for Vivekananda Nagar

Vivekananda Nagar guideline value

The current guideline value of Vivekananda Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Ayappakkam village under the Ambattur SRO, classified as Residential Class I Type - II.

How the guideline value of Vivekananda Nagar has changed

The guideline value for Vivekananda Nagar has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012. However, it decreased to Rs 670 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 1,000 per sq.ft, followed by the current value of Rs 1,100 per sq.ft from the 2024 revision. The register has no figure for this street for the years 2002 and 2003.

From 2007 to 2024, the overall increase in guideline value is 175%. Notably, the jump from 2023 to 2024 is 10%, while the increase from 2017 to 2023 is 49%. The value fluctuated by a decrease of 33% from 2012 to 2017, and a significant increase of 150% from 2007 to 2012.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO with a guideline value range from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for the area is Rs 1,300 per sq.ft, placing Vivekananda Nagar's current value below this median.

• Vivek Nagar: Rs 1,100 per sq.ft (2024)
• Vinayakar Koil Street: Rs 880 per sq.ft (2024)
• V.O.C. Cross Street (Jayaram nagar): Rs 1,100 per sq.ft (2024)
• V.O.C. Nagar: Rs 1,100 per sq.ft (2024)
• V.O.C.nagar 1st street: Rs 1,100 per sq.ft (2024)
• V.O.C. nagar 2nd street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekananda Nagar?

The Sub Registrar Office that covers Vivekananda Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayappakkam. It is used as a benchmark to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivekananda Nagar?

The current guideline value of Vivekananda Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, increasing from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, with fluctuations in between.

What is the median guideline value in Ayappakkam?

The median guideline value in Ayappakkam is Rs 1,300 per sq.ft, which is above the current value of Vivekananda Nagar.

What are the stamp duty rates for property in Vivekananda Nagar?

The stamp duty rate for property in Vivekananda Nagar is 7%, calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Vivekananda Nagar located?

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