Guideline Value for VEDA NAYAGAM ST

Veda Nayagam St guideline value

The current guideline value of Veda Nayagam St in Vilingiyambakkam village, under the Avadi SRO, is Rs 810 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

How the guideline value of Veda Nayagam St has changed

In the 2012 revision, the guideline value was Rs 650 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 435 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 650 per sq.ft in the 2023 revision, followed by another increase to Rs 810 per sq.ft in the 2024 revision, reflecting a rise of 25% from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 25% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value for Veda Nayagam St is below this median.

• Veda Nayagam 1st Street: Rs 1,310 per sq.ft (2024)
• Veda Nayagam 1st Cross St: Rs 1,310 per sq.ft (2024)
• Veda Vinayagar St: Rs 935 per sq.ft (2024)
• Veerapandiyan St: Rs 810 per sq.ft (2024)
• Velmurugan St: Rs 935 per sq.ft (2024)
• Vallalar St: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Veda Nayagam St

For a 1,000 sq.ft plot at the current guideline value of Rs 810 per sq.ft, the total guideline value amounts to Rs 8,10,000. The stamp duty at 7% would be Rs 56,700, and the registration fee at 2% would be Rs 16,200, bringing the total to Rs 72,900. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veda Nayagam St?

The Veda Nayagam St is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vilingiyambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as per government regulations. It helps maintain transparency and accountability in property transactions across the region.

Frequently asked questions

What is the current guideline value of Veda Nayagam St?

The current guideline value of Veda Nayagam St is Rs 810 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then increased to Rs 650 per sq.ft in 2023, and finally to Rs 810 per sq.ft in 2024.

What is the land classification of Veda Nayagam St?

Veda Nayagam St is classified as Residential Class I Type - III, which indicates its suitability for residential purposes.

What are the other streets in Vilingiyambakkam with guideline values?

Other streets in Vilingiyambakkam include Veda Nayagam 1st Street and Veda Nayagam 1st Cross St, both valued at Rs 1,310 per sq.ft in 2024, as well as Veda Vinayagar St, Veerapandiyan St, Velmurugan St, and Vallalar St, with values ranging from Rs 810 to Rs 935 per sq.ft.

Where can I find the Avadi Sub Registrar Office?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.