Guideline Value for VEDERS GARDEN

Veders Garden guideline value

The current guideline value of Veders Garden is Rs 120 per sq.ft. It is located in Karikili village, under the Salavakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Veders Garden has changed

The guideline value for Veders Garden has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 120 per sq.ft. This remained unchanged in the 2017 revision, which also recorded Rs 80 per sq.ft. The 2023 revision again set the value at Rs 120 per sq.ft. The latest revision in 2024 maintains this figure at Rs 120 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Between revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 50%. Overall, from 2012 to 2024, there has been no change in the guideline value.

Guideline values in Karikili

In Karikili village, there are 12 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median value of Rs 116 per sq.ft. Veders Garden's 2024 guideline value is above this median.

• Tncpda Colony Extension: Rs 150 per sq.ft (2024)
• Tncpda Colony: Rs 120 per sq.ft (2024)
• Vijay Raja Nest: Rs 100 per sq.ft (2024)
• Thangam Nagar: Rs 100 per sq.ft (2024)
• Nemichand Park: Rs 100 per sq.ft (2024)
• Madura Nagar: Rs 111 per sq.ft (2024)

Stamp duty and registration fee for property in Veders Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value amounts to Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, making the total fees together Rs 10,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veders Garden?

The Sub Registrar Office that covers Veders Garden is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karikili. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that both parties are aware of the costs involved.

When a property is registered, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the applicable duties and fees, ensuring that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Veders Garden?

The current guideline value of Veders Garden is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the 2012 revision at Rs 120 per sq.ft, a decrease to Rs 80 per sq.ft in 2017, and then returning to Rs 120 per sq.ft in 2023 and 2024.

What is the land classification of Veders Garden?

Veders Garden is classified as Residential Special Type - I, which is significant for determining its use and development potential.

What are the stamp duty and registration fees for property in Veders Garden?

For a 1,000 sq.ft plot, the total guideline value is Rs 1,20,000, leading to a stamp duty of Rs 8,400 and a registration fee of Rs 2,400, totaling Rs 10,800.

Where is the Sub Registrar Office for Veders Garden located?

The Salavakkam Sub Registrar Office, which covers Veders Garden, is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.