Guideline Value for VEDHADRI MAHARISHI NAGAR

Vedhadri Maharishi Nagar guideline value

The current guideline value of Vedhadri Maharishi Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This locality is situated in Atanancheri village, under the jurisdiction of the Gooduvancheri Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Vedhadri Maharishi Nagar has changed

In the 2017 revision, the guideline value was set at Rs 402 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 600 per sq.ft. The current 2024 revision again holds the guideline value at Rs 600 per sq.ft, indicating no change from the previous year. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, there has been a significant increase of 49%. The change from 2017 to 2023 was also 49%, while there was no increase from 2023 to 2024.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Vedhadri Maharishi Nagar's 2024 figure below this median.

• Vasantha Nagar: Rs 600 per sq.ft (2024)
• Varunesh Nagar: Rs 800 per sq.ft (2024)
• United Avenue: Rs 1,050 per sq.ft (2024)
• Vigneshwara Nagar: Rs 600 per sq.ft (2024)
• Vimal Nagar: Rs 600 per sq.ft (2024)
• Thomas Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhadri Maharishi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty is calculated at 7%, resulting in Rs 42,000, while the registration fee at 2% amounts to Rs 12,000. Together, the total cost for these fees is Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vedhadri Maharishi Nagar?

The Vedhadri Maharishi Nagar area falls under the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Atanancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable duties and fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vedhadri Maharishi Nagar?

The current guideline value of Vedhadri Maharishi Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, remaining at Rs 600 per sq.ft in both the 2023 and 2024 revisions. There were no figures recorded for the years 2002, 2003, 2007, and 2012 for this street.

What is the land classification for Vedhadri Maharishi Nagar?

Vedhadri Maharishi Nagar is classified as Residential Special Type - I. This classification is important for understanding the zoning and permissible uses of the land.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot at Rs 600 per sq.ft, the total fees would amount to Rs 54,000.