Guideline Value for VEDHACHALAM STREET

Vedhachalam Street guideline value

The current guideline value of Vedhachalam Street is Rs 1,001 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village, under the Thiruvottiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vedhachalam Street has changed

The guideline value for Vedhachalam Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 61 per sq.ft. It increased to Rs 72 per sq.ft in 2003, marking an increase of 18%. The value then saw a significant rise to Rs 200 per sq.ft in 2007, representing an increase of 178%. In 2012, it further rose to Rs 600 per sq.ft, a 200% increase from the previous revision. However, the 2017 revision saw a decrease to Rs 402 per sq.ft, which was a decline of 33%. The value then increased again to Rs 1,000 per sq.ft in 2023, and finally, it reached Rs 1,001 per sq.ft in the 2024 revision, showing no change from the previous year.

There are no figures available for the years that do not have a specified value for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,541%.

Guideline values in Chinnasekkadu

In Chinnasekkadu, there are 49 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Vedhachalam Street's 2024 figure below that median.

• Vedhagiri Pillai Street: Rs 1,100 per sq.ft (2024)
• Vallivel Nadar Street: Rs 1,001 per sq.ft (2024)
• Thiru.VI.Ka Street: Rs 1,300 per sq.ft (2024)
• Thiruvengadam Street: Rs 1,001 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,500 per sq.ft (2024)
• V.O.C. Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhachalam Street

For a 1,000 sq.ft plot at the current rate of Rs 1,001 per sq.ft, the guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, while the registration fee at 2% would be Rs 20,020. Together, the total cost for these fees would be Rs 90,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vedhachalam Street?

The Sub Registrar Office that covers Vedhachalam Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chinnasekkadu. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the transaction reflects the appropriate legal and financial responsibilities.

Frequently asked questions

What is the current guideline value of Vedhachalam Street?

The current guideline value of Vedhachalam Street is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 61 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 1,541% across the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 10,01,000, leading to a stamp duty of Rs 70,070 and a registration fee of Rs 20,020, totaling Rs 90,090.

Which Sub Registrar Office covers Vedhachalam Street?

The Thiruvottiyur Sub Registrar Office covers Vedhachalam Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Vedhachalam Street?

The land classification for Vedhachalam Street is Residential Class II Type - I, indicating its suitability for residential development.