Guideline Value for Vivekananda Street (H Block)

Vivekananda Street (H Block) guideline value

The current guideline value of Vivekananda Street (H Block) is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Vivekananda Street (H Block) has changed

The guideline value for Vivekananda Street (H Block) has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft. This increased to Rs 4,000 per sq.ft in 2012, reflecting a 100% rise. However, by 2017, the value decreased to Rs 2,680 per sq.ft, marking a decline of 33%. The value then significantly increased to Rs 4,000 per sq.ft in 2023, followed by another rise to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year. Notably, the register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The revision figures show a clear fluctuation in values, with the most recent figure aligning with the median guideline value for Koyakbedu.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is the same as the guideline value for Vivekananda Street (H Block). Below are some other streets in Koyakbedu:

• Vinayagam Street: Rs 3,300 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)
• Yadhaval Street: Rs 3,300 per sq.ft (2024)
• Yamuna Street: Rs 3,300 per sq.ft (2024)
• Z Block 13th Main Road: Rs 13,100 per sq.ft (2024)
• 2nd Avenue: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Street (H Block)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total charges to Rs 3,96,000. It's important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekananda Street (H Block)?

The Sub Registrar Office that covers Vivekananda Street (H Block) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Koyakbedu. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the transaction.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the registration process reflects the true value of the property, as determined by the state authorities.

Frequently asked questions

What is the current guideline value of Vivekananda Street (H Block)?

The current guideline value of Vivekananda Street (H Block) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 2,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting various increases and one decrease over the years.

What is the land classification for Vivekananda Street (H Block)?

The land classification for Vivekananda Street (H Block) is Residential Class I Type - II.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Vivekananda Street (H Block) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions in Koyakbedu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000.