Guideline Value for Vivekananda Street(nilamangai nagar)

Vivekananda Street(nilamangai nagar) guideline value

The current guideline value for Vivekananda Street in Nilamangai Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vivekananda Street(nilamangai nagar) has changed

The guideline value for Vivekananda Street has seen several revisions over the years. In 2007, the value was Rs 1,323 per sq.ft, which increased to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,500 per sq.ft, and the latest revision in 2024 set the value at Rs 3,900 per sq.ft. The overall change from 2007 to 2024 is an increase of 195%.

From 2012 to 2017, there was a notable decrease of 33%, but this was followed by a significant increase of 49% from 2017 to 2023. The increase from 2023 to 2024 is 11%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Vivekananda Street is equal to this median.

• V O C Lane (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• V O C Nagar (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• V O C Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• West Karikalan 1st Street: Rs 3,900 per sq.ft (2024)
• West Karikalan 2nd Street: Rs 3,900 per sq.ft (2024)
• West Karikalan Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Street(nilamangai nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total charges Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekananda Street(nilamangai nagar)?

The Sub Registrar Office that covers Vivekananda Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees payable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost involved in the registration process. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications.

Frequently asked questions

What is the current guideline value for Vivekananda Street(nilamangai nagar)?

The current guideline value for Vivekananda Street in Nilamangai Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,323 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 195%.

What is the land classification for Vivekananda Street(nilamangai nagar)?

The land classification for Vivekananda Street is Residential Class I Type - III.

What are the stamp duty and registration fees on property in Vivekananda Street(nilamangai nagar)?

For a 1,000 sq.ft property at the guideline value of Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles registrations for Vivekananda Street(nilamangai nagar)?

The Alandur Sub Registrar Office handles registrations for Vivekananda Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.