Guideline Value for VEDACHALAM NAGAR

Vedachalam Nagar guideline value

The current guideline value of Vedachalam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Minjur village, under the Ponneri SRO, and is classified as Residential Special Type - I.

How the guideline value of Vedachalam Nagar has changed

The guideline value for Vedachalam Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 804 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Minjur

In Minjur village, there are 179 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. Vedachalam Nagar's 2024 figure of Rs 1,320 per sq.ft is above this median.

• Vedammal Nagar: Rs 550 per sq.ft (2024)
• Vasantham Nagar: Rs 550 per sq.ft (2024)
• Varasithi Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Varalakshmi Nagar: Rs 550 per sq.ft (2024)
• Vellalar Street: Rs 1,320 per sq.ft (2024)
• Venkadeswara Avenue: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Vedachalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vedachalam Nagar?

The Sub Registrar Office that covers Vedachalam Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Minjur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay.

When a property is sold, the guideline value helps in assessing the official value of the property, which is essential for legal documentation and taxation purposes. Buyers should be aware that the guideline value can differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

Frequently asked questions

What is the current guideline value of Vedachalam Nagar?

The current guideline value of Vedachalam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value increased since 2017?

Since 2017, the guideline value has increased by 64%, from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024.

Are there any years without a guideline value for Vedachalam Nagar?

Yes, the register has no figures for Vedachalam Nagar for the years 2002, 2003, 2007, and 2012.

What is the registration fee for properties in Vedachalam Nagar?

The registration fee for properties in Vedachalam Nagar is 2% of the guideline value. For example, if the guideline value is Rs 13,20,000, the registration fee would be Rs 26,400.

How can I calculate the stamp duty for a property in Vedachalam Nagar?

You can calculate the stamp duty for a property in Vedachalam Nagar by using the guideline value and applying the stamp duty rate of 7%. You can also use the stamp duty and registration fee calculator for accurate calculations.