Guideline Value for Vivekanandar Street (Krishnamoorthy Nagar)

Vivekanandar Street (Krishnamoorthy Nagar) guideline value

The current guideline value of Vivekanandar Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from the 2024 revision. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vivekanandar Street (Krishnamoorthy Nagar) has changed

The guideline value for Vivekanandar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the value has seen an increase of 8%. This indicates a fluctuating trend in the guideline value over the years.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a guideline value for 2024, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for Vivekanandar Street.

• Vivekananda Street: Rs 2,700 per sq.ft (2024)
• Vivekanandha Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Vivekanandha Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Vivekananda 2nd Street: Rs 2,700 per sq.ft (2024)
• Vivekananda 1st Street: Rs 2,700 per sq.ft (2024)
• Visalakshi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandar Street (Krishnamoorthy Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vivekanandar Street (Krishnamoorthy Nagar)?

The Sub Registrar Office that covers Vivekanandar Street (Krishnamoorthy Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining 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 buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the property transaction process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Vivekanandar Street?

The current guideline value of Vivekanandar Street (Krishnamoorthy Nagar) is Rs 2,700 per sq.ft, effective from the 2024 revision.

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 to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

What are the stamp duty and registration fees for property in Vivekanandar Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,00,000. The stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000 for these fees.

Which office handles property registration for Vivekanandar Street?

The Madhavaram Sub Registrar Office handles property registration for Vivekanandar Street (Krishnamoorthy Nagar). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value important in property transactions?

The guideline value is essential as it determines the minimum value for property registration. It is also used to calculate the stamp duty and registration fees, which are necessary for completing property transactions legally.