Guideline Value for Vivekananthar Street

Vivekananthar Street guideline value

The current guideline value of Vivekananthar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Vivekananthar Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased by 64%, reaching the current rate of Rs 3,850 per sq.ft.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street. Overall, from the 2012 revision to the 2024 revision, there has been a modest increase of 10% in the guideline value.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which aligns with the current guideline value of Vivekananthar Street.

• Viyasar Street: Rs 3,850 per sq.ft (2024)
• Vishalatchi Street: Rs 3,850 per sq.ft (2024)
• V.V. Giri Street: Rs 3,850 per sq.ft (2024)
• West Kamakodi Nagar: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Agasthiyar Street: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Arunagiri Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekananthar Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. 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 information.

Which Sub Registrar Office covers Vivekananthar Street?

The Sub Registrar Office that covers Vivekananthar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional details.

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

The guideline value serves as a benchmark for property transactions in Valasaravakkam. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the guideline value as it directly impacts the overall cost of property transactions. Accurate knowledge of this value can help facilitate smoother dealings during the registration process.

Frequently asked questions

What is the current guideline value of Vivekananthar Street?

The current guideline value of Vivekananthar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then it increased to Rs 3,850 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Vivekananthar Street?

Vivekananthar Street is classified as Residential Class II Type - I according to the local regulations.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Vivekananthar Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vivekananthar Street?

The Sub Registrar Office for Vivekananthar Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.