Guideline Value for Vivekanandar Street

Vivekanandar Street guideline value

The current guideline value of Vivekanandar Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Molachoor village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - III.

How the guideline value of Vivekanandar Street has changed

Over the years, the guideline value of Vivekanandar Street has seen several revisions. The 2007 revision set the value at Rs 60 per sq.ft, which increased significantly to Rs 600 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 402 per sq.ft. The 2023 revision maintained the value at Rs 600 per sq.ft, and the upcoming 2024 revision will also keep it at Rs 600 per sq.ft. Notably, there are no figures available for this street in the 2002 and 2003 revisions.

From 2007 to 2012, the value increased by 900%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and there has been no change from 2023 to 2024, resulting in an overall increase of 900% from 2007 to 2024.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that have a guideline value for 2024, ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value is Rs 600 per sq.ft, which is equal to the 2024 figure for Vivekanandar Street.

• Visvakarma Street: Rs 600 per sq.ft (2024)
• Vallalar Street: Rs 600 per sq.ft (2024)
• VallaKottai Murugan Nagar: Rs 605 per sq.ft (2024)
• Vadivambal Nagar: Rs 600 per sq.ft (2024)
• Thornas Street: Rs 500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanandar Street?

The Sub Registrar Office that covers Vivekanandar Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Molachoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration of property.

When a property is sold, the guideline value is used to calculate the stamp duty, which is a mandatory fee that must be paid to the government. This ensures that the transaction is legally recognized and recorded, providing protection for both parties involved in the sale.

Frequently asked questions

What is the current guideline value of Vivekanandar Street?

The current guideline value of Vivekanandar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and has remained at Rs 600 per sq.ft in 2023 and 2024.

What are the other streets in Molachoor with the same guideline value?

Other streets in Molachoor with a 2024 guideline value of Rs 600 per sq.ft include Visvakarma Street, Vallalar Street, Vadivambal Nagar, and Thiruvalluvar Street.

Where is the Sub Registrar Office for Vivekanandar Street located?

The Sub Registrar Office for Vivekanandar Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Molachoor?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property with a guideline value of Rs 6,00,000, the stamp duty would be calculated at 7% of that amount.