Guideline Value for VEDANTHAGAL STREET

Vedanthagal Street guideline value

The current guideline value of Vedanthagal Street in Arasankalani village is Rs 1,900 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Vedanthagal Street has changed

The guideline value of Vedanthagal Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,800 per sq.ft, and the most recent 2024 revision set the value at Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft, with a median value of Rs 2,100 per sq.ft. Vedanthagal Street's 2024 figure is below this median.

• Vedanthangal Nagar: Rs 1,900 per sq.ft (2024)
• Vasanthapuram Extentsion: Rs 2,100 per sq.ft (2024)
• Vasanthapuram: Rs 2,100 per sq.ft (2024)
• Vaibhavs Thullia: Rs 2,190 per sq.ft (2024)
• Visalatchi Street: Rs 1,300 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vedanthagal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty, charged at 7%, would be Rs 1,33,000, while the registration fee at 2% would be Rs 38,000. The total cost for these fees would be Rs 1,71,000. 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 more details.

Which Sub Registrar Office covers Vedanthagal Street?

The Sub Registrar Office that covers Vedanthagal Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Arasankalani, as it is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the guideline value is accurately reflected to avoid any discrepancies. This value serves as a benchmark for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Vedanthagal Street?

The current guideline value of Vedanthagal Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Vedanthagal Street?

Vedanthagal Street is classified as Residential Class I Type - II, which indicates its suitability for residential development.