Guideline Value for Kandiban Vedachalam Street

Kandiban Vedachalam Street guideline value

The current guideline value of Kandiban Vedachalam Street is Rs 4,125 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village, under the Chengleput Joint I SRO, and is classified as Residential Special Type - III.

How the guideline value of Kandiban Vedachalam Street has changed

The guideline value of Kandiban Vedachalam Street has seen several revisions over the years. In the 2007 revision, the value was Rs 501 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in the 2012 revision, marking a remarkable increase of 649%. However, in the 2017 revision, the value adjusted to Rs 2,512 per sq.ft, reflecting a decrease of 33%. The 2023 revision set the value at Rs 3,750 per sq.ft, and the most recent 2024 revision raised it to Rs 4,125 per sq.ft, an increase of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 723%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,025 per sq.ft, making the 2024 figure for Kandiban Vedachalam Street above this median.

• Illuputhopu: Rs 3,025 per sq.ft (2024)
• Madurai Veeran Koil Street: Rs 2,420 per sq.ft (2024)
• Gundur Parameswarapuram: Rs 2,420 per sq.ft (2024)
• Gundur Mettu Street: Rs 2,475 per sq.ft (2024)
• Gundur Kutta karai: Rs 2,200 per sq.ft (2024)
• Gundur Colony Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kandiban Vedachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,125 per sq.ft, the total guideline value would be Rs 41,25,000. The stamp duty at 7% would amount to Rs 2,88,750, and the registration fee at 2% would be Rs 82,500. Together, the total cost for stamp duty and registration would be Rs 3,71,250. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kandiban Vedachalam Street?

The Sub Registrar Office that covers Kandiban Vedachalam Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Chengalpattu Town. It serves as a benchmark for determining the minimum value of a property for stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is registered at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kandiban Vedachalam Street?

The current guideline value of Kandiban Vedachalam Street is Rs 4,125 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 501 per sq.ft in 2007 to Rs 4,125 per sq.ft in 2024, reflecting an overall increase of 723% over the years.

What is the land classification of Kandiban Vedachalam Street?

Kandiban Vedachalam Street is classified as Residential Special Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Kandiban Vedachalam Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 41,25,000, the stamp duty would be Rs 2,88,750.