Guideline Value for Vivekanandha Nagar

Vivekanandha Nagar guideline value

The current guideline value of Vivekanandha Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Vivekanandha Nagar has changed

Over the years, the guideline value of Vivekanandha Nagar has seen several revisions. The earliest recorded figure is from 2007, with a guideline value of Rs 1,000 per sq.ft. This value increased significantly to Rs 2,000 per sq.ft in 2012, marking a 100% rise. The value remained unchanged at Rs 2,000 per sq.ft until the next revision in 2023, where it was again set at Rs 2,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value range from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Vivekanandha Nagar's 2024 figure is below this median.

• Vivekananda Street (Ramakrishna Nagar): Rs 2,200 per sq.ft (2024)
• Vivek Nagar: Rs 2,200 per sq.ft (2024)
• Vinobha Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vinobaba Nagar: Rs 2,200 per sq.ft (2024)
• V.O.C. Street: Rs 2,700 per sq.ft (2024)
• Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanandha Nagar?

The Vivekanandha Nagar area falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs reflect the current market conditions as determined by the government.

When buying or selling property, the guideline value is referred to at the time of registration to ascertain the applicable duties. It is essential for buyers and sellers to be aware of this value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vivekanandha Nagar?

The current guideline value of Vivekanandha Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting a 120% increase overall.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur, such as Vivekananda Street, Vivek Nagar, and Vinobha Nagar 1st Street, also have a guideline value of Rs 2,200 per sq.ft for 2024.

What are the stamp duty and registration fees for property in Vivekanandha Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information online.