Guideline Value for Vivekanandhar Street

Vivekanandhar Street guideline value

The current guideline value of Vivekanandhar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Vivekanandhar Street has changed

The guideline value for Vivekanandhar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the 2023 revision of Rs 1,500 per sq.ft. Looking further back, the 2017 revision recorded a value of Rs 1,005 per sq.ft, reflecting a significant increase of 49% from that year to 2023. Prior to that, in 2012, the guideline value was Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Vivekanandhar Street. Overall, when comparing the 2012 value to the 2024 value, there has been an increase of 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the guideline value for Vivekanandhar Street.

• V.O.C. Street: Rs 1,650 per sq.ft (2024)
• V.O.C. Street 1st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street 2st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street 3st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street 4st cross street: Rs 1,320 per sq.ft (2024)
• V.O.C. Street From Kattapomman St to tha end: Rs 1,980 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivekanandhar Street?

The Vivekanandhar Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction.

When a property is bought or sold, the guideline value helps in determining the official value of the property for registration purposes. This ensures that the transaction is recorded accurately, reflecting the value as per the latest revisions in the guideline value register.

Frequently asked questions

What is the current guideline value of Vivekanandhar Street?

The current guideline value of Vivekanandhar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a 10% increase. It was Rs 1,005 per sq.ft in 2017, which increased by 49% to 2023.

What is the land classification for Vivekanandhar Street?

The land classification for Vivekanandhar Street is Residential Class I Type - II.

What are the other streets in Peerklankaranai?

Other streets in Peerklankaranai include V.O.C. Street, V.O.C. Street 1st cross street, V.O.C. Street 2st cross street, V.O.C. Street 3st cross street, V.O.C. Street 4st cross street, and V.O.C. Street From Kattapomman St to tha end, with varying guideline values.

How is stamp duty calculated for properties on Vivekanandhar Street?

Stamp duty for properties on Vivekanandhar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.