Guideline Value for Vivekanandar 3rd Street

Vivekanandar 3rd Street guideline value

The current guideline value of Vivekanandar 3rd 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 3rd Street has changed

The guideline value for Vivekanandar 3rd Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased 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 then further to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Vivekanandar 3rd Street's 2024 figure above this median.

• Vivekanandar 3rd Cross Street: Rs 2,800 per sq.ft (2024)
• Vivekanandar Extn. Road: Rs 2,800 per sq.ft (2024)
• Vivekanandar 2nd Street: Rs 4,400 per sq.ft (2024)
• Vivekanandar 1st Street: Rs 4,400 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 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 be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanandar 3rd Street?

The Sub Registrar Office covering Vivekanandar 3rd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees are calculated based on this value.

When a property is sold, the guideline value helps in assessing the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

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

The current guideline value of Vivekanandar 3rd 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 is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, with Vivekanandar 3rd Street's 2024 figure being above this median.

What are the registration fees for properties in Vivekanandar 3rd Street?

The registration fees for properties in Vivekanandar 3rd Street include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Vivekanandar 3rd Street located?

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