Guideline Value for Vivekandar Street Ext

Vivekandar Street Ext guideline value

The current guideline value of Vivekandar Street Ext is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vivekandar Street Ext has changed

Over the years, the guideline value of Vivekandar Street Ext has seen several revisions. The earliest recorded figure is from 2012, where the value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,300 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the guideline value increased by 8% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Vivekandar Street Ext is below this median.

• Vivakanandar Street: Rs 1,300 per sq.ft (2024)
• VOC Street: Rs 2,700 per sq.ft (2024)
• Vijayakumar Avenue: Rs 1,600 per sq.ft (2024)
• V.G.P. Pon Nagar North: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar Main Road: Rs 2,200 per sq.ft (2024)
• V.G.P. Pon Nagar Extn: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekandar Street Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vivekandar Street Ext?

The Vivekandar Street Ext falls under the jurisdiction of the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Chembakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is registered at a fair price.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vivekandar Street Ext?

The current guideline value of Vivekandar Street Ext is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, and then increasing to Rs 1,200 per sq.ft in 2023, before reaching Rs 1,300 per sq.ft in 2024.

What is the land classification of Vivekandar Street Ext?

Vivekandar Street Ext is classified as Residential Class III Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for property in Vivekandar Street Ext?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000, resulting in a stamp duty of Rs 91,000.