Guideline Value for Vivekandar Street

Vivekandar Street guideline value

The current guideline value of Vivekandar Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vivekandar Street has changed

Over the years, the guideline value of Vivekandar Street has undergone several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly in the 2023 revision to Rs 1,500 per sq.ft, and most recently, the 2024 revision raised it to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change in guideline value from 2012 to 2024 shows a modest increase of 7%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. Vivekandar Street's 2024 guideline value of Rs 1,600 per sq.ft is below this median.

• V.G.P.Santhanammal Nagar 3rd Street: Rs 2,650 per sq.ft (2024)
• V.G.P.Santhanammal Nagar 2nd Street: Rs 2,650 per sq.ft (2024)
• V.G.P.Santhanammal Nagar 1st Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar Main Road: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar 3rd Cross Street: Rs 2,650 per sq.ft (2024)
• V.G.P. Santhanamal Nagar 2nd Cross Street: Rs 2,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekandar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty, calculated at 7%, would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Therefore, the total cost for these fees would be Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Vivekandar Street?

The Sub Registrar Office that covers Vivekandar Street is 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 Gowrivakkam

The guideline value plays a crucial role during the registration process of property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the total cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Vivekandar Street?

The current guideline value of Vivekandar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Vivekandar Street?

Vivekandar Street is classified as Residential Special Type - II under the Selaiyur SRO.

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

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

What are the stamp duty and registration fees for properties in Vivekandar Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.