Guideline Value for VEDHACHALAM NAGAR

Vedhachalam Nagar guideline value

The current guideline value of Vedhachalam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Padappai village, under the Padappai Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - I.

How the guideline value of Vedhachalam Nagar has changed

The guideline value for Vedhachalam Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 804 per sq.ft, indicating a significant increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is worth noting that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The 2017 revision was the first recorded figure for Vedhachalam Nagar, and it has seen a steady increase since then.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. The guideline value of Vedhachalam Nagar at Rs 1,320 per sq.ft is above this median.

• Vedavinayagar Koil Street: Rs 830 per sq.ft (2024)
• Vandalur - Walajabad Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Vijay Sri Avenue: Rs 990 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 830 per sq.ft (2024)
• Vinayaga Nagar: Rs 830 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vedhachalam Nagar?

The Vedhachalam Nagar area falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Vedhachalam Nagar?

The current guideline value of Vedhachalam Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, which is a total increase of 64% over that period.

What is the land classification of Vedhachalam Nagar?

Vedhachalam Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Vedhachalam Nagar?

The registration office for Vedhachalam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800. The duty is charged on the higher of the guideline value or the sale price.