Guideline Value for VEDAMMAL NAGAR

Vedammal Nagar guideline value

The current guideline value of Vedammal Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vedammal Nagar has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw the value increase further to Rs 550 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, making Vedammal Nagar's 2024 figure equal to this median.

• Vedachalam Nagar: Rs 1,320 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 Vedammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that 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 Vedammal Nagar?

The Sub Registrar Office that covers Vedammal 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 property registration in Minjur. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is bought or sold, the guideline value ensures that the transaction is registered at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vedammal Nagar?

The current guideline value of Vedammal Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, marking an overall increase of 64%.

What is the median guideline value for streets in Minjur?

The median guideline value for streets in Minjur is Rs 550 per sq.ft, which is the same as the current value for Vedammal Nagar.

What are the stamp duty and registration fees for a property in Vedammal Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which office do I need to visit for property registration in Vedammal Nagar?

The Ponneri Sub Registrar Office is responsible for property registration in Vedammal Nagar. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.