Guideline Value for Vivekandan road

Vivekandan road guideline value

The current guideline value of Vivekandan road is Rs 4,900 per sq.ft, effective from 1 July 2024. This road is located in Egmore village under the Periamet SRO, classified as Residential Class II Type - III.

How the guideline value of Vivekandan road has changed

The guideline value for Vivekandan road has seen several revisions over the years. The earliest recorded value was Rs 1,495 per sq.ft in 2007. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 201% rise. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft in 2024, reflecting a 9% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 228%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, placing Vivekandan road's current value below this median.

• V.R.R.Colony: Rs 3,900 per sq.ft (2024)
• Water Works Avenue: Rs 8,300 per sq.ft (2024)
• Vilayattu thidal street: Rs 7,100 per sq.ft (2024)
• Whannels salai: Rs 18,100 per sq.ft (2024)
• Victoria Cresent Road(a)Dr.Cherian Road: Rs 15,000 per sq.ft (2024)
• Venugopal Pillai street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekandan road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. It is important to note that 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 details.

Which Sub Registrar Office covers Vivekandan road?

The Vivekandan road falls under the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Egmore, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are documented at a fair value, aligning with the official guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vivekandan road?

The current guideline value of Vivekandan road is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,495 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 228% over this period.

What is the guideline value of other streets in Egmore?

Other streets in Egmore have varying guideline values, with rates ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value in the area is Rs 7,100 per sq.ft.

What are the stamp duty and registration fees for property in Vivekandan road?

For a 1,000 sq.ft property, the total guideline value is Rs 49,00,000. The stamp duty would be Rs 3,43,000, and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which office handles registrations for Vivekandan road?

The Periamet Sub Registrar Office handles registrations for Vivekandan road, located at 1103, Poonamallee High Road, Chennai-600 003.