Guideline Value for Vivekannanda Nagar Extension

Vivekannanda Nagar Extension guideline value

The current guideline value of Vivekannanda Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Vivekannanda Nagar Extension has changed

The guideline value for Vivekannanda Nagar Extension has undergone several revisions over the years. Starting from Rs 138 per sq.ft in 2002, it increased to Rs 160 per sq.ft in 2003. The value then saw a significant rise to Rs 660 per sq.ft in 2007, followed by a jump to Rs 2,500 per sq.ft in 2012. The value remained unchanged at Rs 2,500 per sq.ft until the 2023 revision, which set it at Rs 2,500 per sq.ft again. The most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2002 to 2003, the increase was +16%; from 2003 to 2007, it rose by +313%; from 2007 to 2012, it increased by +279%; and from 2012 to 2023, there was no change. Overall, from 2002 to 2024, the guideline value has increased by +1857%. It is noteworthy that the register has no figure for this street for the year 2017.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing the Vivekannanda Nagar Extension's 2024 figure above that median.

• Vivekannanda Nagar Kanakambaram Street: Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Lilli Street: Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Malligai Street: Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Manoranjetham Street: Rs 2,700 per sq.ft (2024)
• Vivekanantha Street (Vivekanantha Nagar): Rs 2,700 per sq.ft (2024)
• Vivekannanda Nagar Masilamani Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vivekannanda Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 further calculations.

Which Sub Registrar Office covers Vivekannanda Nagar Extension?

The Vivekannanda Nagar Extension falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared against the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with legal requirements.

Frequently asked questions

What is the current guideline value of Vivekannanda Nagar Extension?

The current guideline value of Vivekannanda Nagar Extension is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 138 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +1857% over this period.

What is the land classification of Vivekannanda Nagar Extension?

Vivekannanda Nagar Extension is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the other streets with the same guideline value in Thirumullaivoyal?

Other streets in Thirumullaivoyal with the same 2024 guideline value of Rs 2,700 per sq.ft include Vivekannanda Nagar Kanakambaram Street, Vivekannanda Nagar Lilli Street, Vivekannanda Nagar Malligai Street, Vivekannanda Nagar Manoranjetham Street, Vivekanantha Street (Vivekanantha Nagar), and Vivekannanda Nagar Masilamani Street.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.