Guideline Value for Vivekananda Pillai Street (Vetri Nagar)

Vivekananda Pillai Street (Vetri Nagar) guideline value

The current guideline value of Vivekananda Pillai Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Vivekananda Pillai Street (Vetri Nagar) has changed

The guideline value for Vivekananda Pillai Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 360 per sq.ft. This increased to Rs 392 per sq.ft in 2003, marking a 9% rise. In 2007, the value saw a significant jump to Rs 700 per sq.ft, which was an increase of 79%. Following this, the 2012 revision brought the value back to Rs 3,000 per sq.ft, reflecting a decrease of 329% from the previous revision. The 2017 revision showed a notable increase to Rs 2,010 per sq.ft, which was a 49% rise from 2012. The 2023 revision set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,301 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 817%. There are no figures available for the revisions in years not listed in the register.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 3,301 per sq.ft, which is the same as the current value for Vivekananda Pillai Street.

• Vivekananda School Street (Sakthi Vel Nagar): Rs 4,200 per sq.ft (2024)
• Viswanathan Street (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Vetri Nagar East Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar 4th Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar 3rd Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar 2nd Main Road: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Pillai Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekananda Pillai Street (Vetri Nagar)?

The Sub Registrar Office that covers Vivekananda Pillai Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Peravallur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for the transaction. It is essential to consider this value, as it impacts the overall cost of the transaction, including taxes and fees that must be paid during the registration process.

Frequently asked questions

What is the current guideline value of Vivekananda Pillai Street (Vetri Nagar)?

The current guideline value of Vivekananda Pillai Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 360 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 817% over this period.

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

For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Vivekananda Pillai Street (Vetri Nagar).

What is the land classification for Vivekananda Pillai Street (Vetri Nagar)?

The land classification for this street is Residential Special Type - II, which is designated for residential purposes within the area.