Guideline Value for Vivekanandapuram 1st Street(Adhikesavapuram) (W.M)

Vivekanandapuram 1st Street(Adhikesavapuram) (W.M) guideline value

The current guideline value of Vivekanandapuram 1st Street(Adhikesavapuram) (W.M) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vivekanandapuram 1st Street(Adhikesavapuram) (W.M) has changed

Over the years, the guideline value for Vivekanandapuram 1st Street(Adhikesavapuram) has seen significant changes. The 2007 revision set the value at Rs 2,110 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, marking a rise of 184%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, a decline of 33%. The value then rose to Rs 6,000 per sq.ft in the 2023 revision, reflecting an increase of 49%. The most recent revision in 2024 has set the value at Rs 6,600 per sq.ft, a further increase of 10%.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 213%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, placing the 2024 guideline value of Vivekanandapuram 1st Street(Adhikesavapuram) (W.M) above this median.

• Vivekananda Nagar (NP): Rs 2,200 per sq.ft (2024)
• Vivekanandar Street: Rs 3,300 per sq.ft (2024)
• Vivekananda Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• V.K. Krishnan Street: Rs 3,300 per sq.ft (2024)
• V.M. Balakrishnan Street: Rs 4,900 per sq.ft (2024)
• V.N. Janaki Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandapuram 1st Street(Adhikesavapuram) (W.M)

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value totals Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 details.

Which Sub Registrar Office covers Vivekanandapuram 1st Street(Adhikesavapuram) (W.M)?

The Vivekanandapuram 1st Street(Adhikesavapuram) (W.M) falls under the Ashok Nagar 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 Kodambakkam

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value according to government standards.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivekanandapuram 1st Street(Adhikesavapuram) (W.M)?

The current guideline value of Vivekanandapuram 1st Street(Adhikesavapuram) (W.M) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,110 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, indicating an overall increase of 213% over the years.

What is the registration office for Vivekanandapuram 1st Street(Adhikesavapuram) (W.M)?

The registration office for Vivekanandapuram 1st Street(Adhikesavapuram) (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty rates for property transactions in this area?

The stamp duty rate for property transactions in this area is 7%, while the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where can I find more information about guideline values in Kodambakkam?

For more information about guideline values in Kodambakkam, you can refer to the registration department's guideline value register or visit the respective links for other streets in the area.