Guideline Value for Vivekanandhar Street

Vivekanandhar Street guideline value

The current guideline value of Vivekanandhar Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Thandalam village and falls under the Pammal SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vivekanandhar Street has changed

In the 2017 revision, the guideline value for Vivekanandhar Street was Rs 536 per sq.ft. This figure increased significantly to Rs 800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase, bringing the value to Rs 880 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for this street in the revisions from 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, positioning Vivekanandhar Street's 2024 figure below this median.

• Vellalar Street: Rs 880 per sq.ft (2024)
• Vanigar Street(ward 3): Rs 990 per sq.ft (2024)
• Vanigar Street (ward 2): Rs 990 per sq.ft (2024)
• Valluvar Street: Rs 880 per sq.ft (2024)
• Subham Avenue: Rs 1,210 per sq.ft (2024)
• S.S.Garden: Rs 1,480 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanandhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vivekanandhar Street?

The Vivekanandhar Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thandalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value helps ensure transparency and fairness in the transaction process. Buyers and sellers must consider this value to understand the financial implications of their property dealings accurately.

Frequently asked questions

What is the current guideline value of Vivekanandhar Street?

The current guideline value of Vivekanandhar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, and then to Rs 880 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Vivekanandhar Street?

Vivekanandhar Street is classified as Residential Class III Type - I. This classification is important for determining the usage and regulations applicable to the property.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties on Vivekanandhar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600.