Guideline Value for Vivekanandar Street

Vivekanandar Street guideline value

The current guideline value of Vivekanandar Street in Mudichur village is Rs 1,210 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office and is classified as Residential Class II Type - I.

How the guideline value of Vivekanandar Street has changed

The guideline value for Vivekanandar Street has seen several revisions over the years. The figures are as follows: in 2012, the value was Rs 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,100 per sq.ft, and the latest revision in 2024 set it at Rs 1,210 per sq.ft, marking a 10% increase from 2023. The overall change from 2012 to 2024 reflects a 10% increase.

Between the revisions, the changes are notable: from 2017 to 2023, there was a significant increase of 49%. The decrease from 2012 to 2017 was 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vivekanandar Street's 2024 figure below that median.

• Vithiyammigai Street: Rs 1,210 per sq.ft (2024)
• VOC Street: Rs 1,210 per sq.ft (2024)
• Vidhyalakshmi Street: Rs 1,210 per sq.ft (2024)
• Venkatheri Nagar: Rs 1,210 per sq.ft (2024)
• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 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 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees together to Rs 1,08,900. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vivekanandar Street?

The Vivekanandar Street falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial reference point when registering property transactions in Mudichur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on the property's value.

When buying or selling property, the guideline value helps both parties understand the official value assigned to the property. It is essential for buyers to be aware of this value to ensure they are not overpaying for the property, while sellers can use it to set a competitive price.

Frequently asked questions

What is the current guideline value of Vivekanandar Street?

The current guideline value of Vivekanandar Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the stamp duty for property in Vivekanandar Street?

The stamp duty for property in Vivekanandar Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Vivekanandar Street?

The Padappai Sub Registrar Office covers Vivekanandar Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai.

What is the land classification of Vivekanandar Street?

Vivekanandar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.