Guideline Value for Vivekanatha Salai

Vivekanatha Salai guideline value

The current guideline value of Vivekanatha Salai is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Periyakuppam village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vivekanatha Salai has changed

The guideline value for Vivekanatha Salai has undergone several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 500% rise. However, the value then decreased to Rs 804 per sq.ft in 2017, representing a decline of 33%. The 2023 revision saw the value increase to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,320 per sq.ft, a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Vivekanatha Salai is above this median.

• V.M. Nagar: Rs 1,650 per sq.ft (2024)
• V.O.Saminathan Street: Rs 1,100 per sq.ft (2024)
• 1'st Cross Street: Rs 550 per sq.ft (2024)
• 2'nd Cross Street: Rs 550 per sq.ft (2024)
• V.G.P./ Nagar: Rs 1,650 per sq.ft (2024)
• Varadha Rajapuram & Varadha Raja Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekanatha Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vivekanatha Salai?

The Vivekanatha Salai street is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Periyakuppam. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair price for tax purposes.

When registering a property, buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vivekanatha Salai?

The current guideline value of Vivekanatha Salai is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the other streets in Periyakuppam and their guideline values?

Other streets in Periyakuppam include V.M. Nagar at Rs 1,650 per sq.ft, V.O.Saminathan Street at Rs 1,100 per sq.ft, and 1'st and 2'nd Cross Streets at Rs 550 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Vivekanatha Salai?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 13,20,000, the total fees would amount to Rs 1,18,800.

Which office handles property registrations for Vivekanatha Salai?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations for Vivekanatha Salai, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.