Guideline Value for Vivekananda Street

Vivekananda Street guideline value

The current guideline value of Vivekananda Street in Thirumangalam village is Rs 11,500 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Special Type - I.

How the guideline value of Vivekananda Street has changed

Over the years, the guideline value of Vivekananda Street has seen several revisions. The 2007 revision set the value at Rs 2,200 per sq.ft, which then increased to Rs 10,500 per sq.ft in the 2012 revision, marking a significant rise of 377%. However, in the 2017 revision, the value decreased to Rs 7,035 per sq.ft, reflecting a drop of 33%. The value then increased to Rs 10,500 per sq.ft in the 2023 revision, a rise of 49% from the previous figure. The current guideline value of Rs 11,500 per sq.ft, effective from July 2024, represents a 10% increase from the 2023 revision.

The register has no figures for the revisions in 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 423%.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, which is the same as the guideline value for Vivekananda Street.

• Y- Block (West) 1593, 3013, 3065 2907 (Near Natesan Co-operative Training Institute) 13th Main Road: Rs 13,200 per sq.ft (2024)
• 2nd Avenue: Rs 15,900 per sq.ft (2024)
• 7 th Avenue, 100 feet Road: Rs 13,200 per sq.ft (2024)
• 7th Avenue, Ambedkar Statute to old Thirumangalam, End Point Facing East West and West East Both sides coovam River Area near Bridge: Rs 13,200 per sq.ft (2024)
• 7th Avenue Appolo Flats: Rs 13,200 per sq.ft (2024)
• 7th Avenue Bharathi Colony: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananda Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would be Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total to Rs 10,35,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekananda Street?

The Vivekananda Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumangalam. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, is considered for calculating these charges. This ensures that the registration department has a standardized value for properties in the area, facilitating the transaction process.

Frequently asked questions

What is the current guideline value of Vivekananda Street?

The current guideline value of Vivekananda Street is Rs 11,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, marking an overall increase of 423% over the years.

What is the land classification of Vivekananda Street?

Vivekananda Street is classified as Residential Special Type - I under the AnnaNagar SRO.

What are the stamp duty and registration fees for property in Vivekananda Street?

For a property valued at Rs 1,15,00,000, the stamp duty would be Rs 8,05,000 and the registration fee would be Rs 2,30,000, totaling Rs 10,35,000.

Which office handles registrations for Vivekananda Street?

The AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for Vivekananda Street.