Guideline Value for Vivekanantha Nagar

Vivekanantha Nagar guideline value

The current guideline value of Vivekanantha Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Vivekanantha Nagar has changed

The guideline value for Vivekanantha Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Rs 2,700 per sq.ft for Vivekanantha Nagar is above this median.

• Vivekanantha Nagar Vaigai Street: Rs 2,700 per sq.ft (2024)
• Vivekanantha Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Vivekanantha Street (Vivekanantha Nagar): Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Extension: Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Kanakambaram Street: Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Lilli Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanantha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. Please note that the 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 information.

Which Sub Registrar Office covers Vivekanantha Nagar?

The Vivekanantha Nagar area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Vivekanantha Nagar?

The current guideline value of Vivekanantha Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft in 2024.

What is the land classification of Vivekanantha Nagar?

Vivekanantha Nagar is classified as Residential Special Type - II.

What is the registration office for Vivekanantha Nagar?

The registration office for Vivekanantha Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Vivekanantha Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.