Guideline Value for Vivekanandar 1st Street

Vivekanandar 1st Street guideline value

The current guideline value of Vivekanandar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and is classified as Residential Class I Type - I.

How the guideline value of Vivekanandar 1st Street has changed

The guideline value for Vivekanandar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft from the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase.

Guideline values in Kottivakkam

Kottivakkam village features a range of guideline values across its 284 streets, with figures for 2024 ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, placing Vivekanandar 1st Street's 2024 figure above this median.

• Vivekanandar 2nd Street: Rs 4,400 per sq.ft (2024)
• Vivekanandar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Vivekanandar 3rd Street: Rs 4,400 per sq.ft (2024)
• Vivekanandar Extn. Road: Rs 2,800 per sq.ft (2024)
• Vivekanandar Street: Rs 4,400 per sq.ft (2024)
• V.O.C. Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would amount to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanandar 1st Street?

The Adayar Sub Registrar Office covers Vivekanandar 1st Street. The office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kottivakkam, as it determines the minimum value at which properties can be registered. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they comply with legal requirements during the registration process. This value reflects the standard pricing for properties in the area and helps in determining the financial obligations involved in property transactions.

Frequently asked questions

What is the current guideline value of Vivekanandar 1st Street?

The current guideline value of Vivekanandar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Vivekanandar 1st Street?

The Adayar Sub Registrar Office handles property registrations for Vivekanandar 1st Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value of properties, which affects the calculation of stamp duty and registration fees during property transactions.