Guideline Value for VEDHAGIRI PILLAI STREET

Vedhagiri Pillai Street guideline value

The current guideline value of Vedhagiri Pillai Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chinnasekkadu village under the Thiruvottiyur SRO, classified as Residential Class I Type - II.

How the guideline value of Vedhagiri Pillai Street has changed

The guideline value for Vedhagiri Pillai Street has undergone several revisions over the years. In 2002, the value was Rs 79 per sq.ft, which increased to Rs 92 per sq.ft in 2003, marking a change of +16%. The value then rose significantly to Rs 200 per sq.ft in 2007, an increase of +117%. By 2012, the value reached Rs 1,000 per sq.ft, reflecting a substantial increase of +400%. However, from 2017 to 2023, the value saw a notable increase from Rs 670 per sq.ft to Rs 1,000 per sq.ft, which is a change of +49%. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for Vedhagiri Pillai Street. Overall, from 2002 to 2024, the guideline value has increased by +1292%.

Guideline values in Chinnasekkadu

In Chinnasekkadu village, 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, with a median value of Rs 1,100 per sq.ft. Vedhagiri Pillai Street's 2024 figure aligns with this median.

• Vedhachalam Street: Rs 1,001 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 Vedhagiri Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vedhagiri Pillai Street?

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

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 at which property transactions are registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

When you register a property transaction, the guideline value helps in calculating the fees involved. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements and to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of Vedhagiri Pillai Street?

The current guideline value of Vedhagiri Pillai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 79 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of +1292%.

What is the median guideline value in Chinnasekkadu?

The median guideline value in Chinnasekkadu is Rs 1,100 per sq.ft, which is the same as the current value for Vedhagiri Pillai Street.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Vedhagiri Pillai Street?

The Sub Registrar Office for Vedhagiri Pillai Street is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.