Guideline Value for VEDANTHANGAL NAGAR

Vedanthangal Nagar guideline value

The current guideline value of Vedanthangal Nagar, located in Arasankalani village, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Class I Type - II.

How the guideline value of Vedanthangal Nagar has changed

The guideline value for Vedanthangal Nagar has seen several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,206 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, marking a 49% rise. The latest revision in 2024 set the value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

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. The guideline value for Vedanthangal Nagar is below this median.

• Vedanthagal Street: 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 Vedanthangal Nagar

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 at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. 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 Vedanthangal Nagar?

The Vedanthangal Nagar area is covered by 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 is a crucial factor during the registration of property transactions in Arasankalani. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vedanthangal Nagar?

The current guideline value of Vedanthangal Nagar 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 is the land classification for Vedanthangal Nagar?

Vedanthangal Nagar is classified as Residential Class I Type - II.

How does the guideline value compare to other streets in Arasankalani?

The guideline value for Vedanthangal Nagar is below the median value of Rs 2,100 per sq.ft for the 85 streets in Arasankalani, which range from Rs 1,300 to Rs 4,750 per sq.ft.

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.