Guideline Value for VEDHACHALAM NAGAR

Vedhachalam Nagar guideline value

The current guideline value of Vedhachalam Nagar, located in Jelandianpettai village under the Chennai South Joint I SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Vedhachalam Nagar has changed

Over the years, the guideline value of Vedhachalam Nagar has seen several revisions. The 2007 revision set the value at Rs 1,380 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in the 2017 revision before rising significantly to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The overall change from 2007 to 2024 reflects an increase of 59% in the guideline value for Vedhachalam Nagar.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the guideline value of Vedhachalam Nagar. The following are other streets in Jelandianpettai:

• Vedhachalam Street: Rs 2,200 per sq.ft (2024)
• Veera Anjaneyar Street: Rs 1,870 per sq.ft (2024)
• Veerathamman Koil East Street: Rs 2,200 per sq.ft (2024)
• Veerathamman Koil Street: Rs 2,200 per sq.ft (2024)
• Veerathamman Koil West Street: Rs 2,200 per sq.ft (2024)
• Venkadesan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhachalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. 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 Vedhachalam Nagar?

The Sub Registrar Office that covers Vedhachalam Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Jelandianpettai. It serves as the minimum benchmark value for properties, ensuring that the government receives the appropriate revenue through stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it may affect the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher value between the guideline value and the sale price.

Frequently asked questions

What is the current guideline value of Vedhachalam Nagar?

The current guideline value of Vedhachalam Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,380 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 59% over the years.

What is the land classification of Vedhachalam Nagar?

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

Where can I find the registration office for Vedhachalam Nagar?

The registration office for Vedhachalam Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Vedhachalam Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty would be calculated accordingly.