Guideline Value for Vivekanandar 3rd Cross Street

Vivekanandar 3rd Cross Street guideline value

The current guideline value of Vivekanandar 3rd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village and falls under the Adayar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vivekanandar 3rd Cross Street has changed

The guideline value for Vivekanandar 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. However, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, and then further rose to Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

From 2012 to 2017, there was a decline of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 12%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

Kottivakkam village features a total of 284 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, indicating that the guideline value of Vivekanandar 3rd Cross Street is below this median.

• Vivekanandar 2nd Street: Rs 4,400 per sq.ft (2024)
• Vivekanandar 3rd Street: Rs 4,400 per sq.ft (2024)
• Vivekanandar 1st 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 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% is Rs 1,96,000, while the registration fee at 2% is Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanandar 3rd Cross Street?

The Vivekanandar 3rd Cross Street is covered by the Adayar Sub Registrar Office, 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 during the registration of property transactions in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is referenced to ensure that the correct fees are calculated based on the property's value. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Vivekanandar 3rd Cross Street?

The current guideline value of Vivekanandar 3rd Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Vivekanandar 3rd Cross Street?

The land classification for Vivekanandar 3rd Cross Street is Residential Class IV Type - I.

Which Sub Registrar Office covers the area?

The Adayar Sub Registrar Office covers Vivekanandar 3rd Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 28,00,000 incurs a stamp duty of Rs 1,96,000 at 7%.