Guideline Value for Vivekanandapuram

Vivekanandapuram guideline value

The current guideline value of Vivekanandapuram is Rs 700 per sq.ft, effective from 1 July 2024. This village falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of Vivekanandapuram has changed

In the 2017 revision, the guideline value was set at Rs 469 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 700 per sq.ft. The current 2024 revision continues this trend with a guideline value of Rs 700 per sq.ft, showing no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has also increased by 49%.

Guideline values in Sriperumbudur A

Vivekanandapuram's guideline value of Rs 700 per sq.ft is equal to the median value of Rs 700 per sq.ft among the 238 streets in Sriperumbudur A under the Sriperumpudur SRO, which range from Rs 400 to Rs 3,000 per sq.ft.

• Vishnuprakash Nagar: Rs 700 per sq.ft (2024)
• V P Chatram: Rs 1,000 per sq.ft (2024)
• Vinus garden: Rs 700 per sq.ft (2024)
• Vinayaga nagar: Rs 700 per sq.ft (2024)
• Xl Estates: Rs 700 per sq.ft (2024)
• Vimala Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandapuram

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total Rs 63,000. 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 further calculations.

Which Sub Registrar Office covers Vivekanandapuram?

The Vivekanandapuram area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial figure used during the registration process of property transactions in Sriperumbudur A. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vivekanandapuram?

The current guideline value of Vivekanandapuram is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Vivekanandapuram?

Vivekanandapuram is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vivekanandapuram?

The Sub Registrar Office covering Vivekanandapuram is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.