Guideline Value for Vivekananda Street

Vivekananda Street guideline value

The current guideline value of Vivekananda Street in Perungalathur village is Rs 2,640 per sq.ft, effective from 1 July 2024. This street falls under the Padappai SRO and is classified as Residential Class I Type - I.

How the guideline value of Vivekananda Street has changed

The guideline value for Vivekananda Street has seen several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which then increased significantly to Rs 2,400 per sq.ft in 2012. However, it dropped to Rs 1,608 per sq.ft in 2017 before rising to Rs 2,400 per sq.ft in 2023. The most recent revision in 2024 has raised the value to Rs 2,640 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 956%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,310 per sq.ft, placing Vivekananda Street's 2024 figure above this median.

• Vivek Nagar: Rs 1,980 per sq.ft (2024)
• Vivek Nagar Extension: Rs 1,320 per sq.ft (2024)
• V.N.Apartments: Rs 2,640 per sq.ft (2024)
• Vishnu Nagar Extn II: Rs 1,980 per sq.ft (2024)
• Vishnu Nagar 4th Street: Rs 2,310 per sq.ft (2024)
• Vishnu Nagar: Rs 2,640 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 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, leading to a total cost of Rs 2,37,600. It is 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 detailed calculations.

Which Sub Registrar Office covers Vivekananda Street?

The Vivekananda Street falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value can also serve as a reference point for negotiations. However, the final sale price may differ based on various factors, and the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vivekananda Street?

The current guideline value of Vivekananda Street is Rs 2,640 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revision occurring in 2024. Previous revisions took place in 2023, 2017, 2012, and 2007.

What is the land classification for Vivekananda Street?

Vivekananda Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in the area is set at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vivekananda Street?

The Padappai Sub Registrar Office covers Vivekananda Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.