Guideline Value for VEDHAPPAR STREET

Vedhappar Street guideline value

The current guideline value for Vedhappar Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Vedhappar Street has changed

Looking back at the revisions, the guideline value for Vedhappar Street was Rs 2,000 per sq.ft in 2023, which increased to Rs 2,200 per sq.ft in 2024, marking a change of +10%. The previous revision in 2017 set the value at Rs 1,340 per sq.ft, showing a significant increase of +49% to reach the 2023 figure. In 2012, the value was Rs 2,000 per sq.ft, which decreased by -33% to Rs 1,340 per sq.ft in 2017. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of +10%. The current value of Rs 2,200 per sq.ft aligns with the median guideline value for the 88 streets in Chengalpattu Natham under the Chengleput Joint II SRO, which ranges from Rs 1,100 to Rs 5,500 per sq.ft.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, the guideline values for various streets vary significantly. Vedhappar Street's 2024 figure of Rs 2,200 per sq.ft is equal to the median value for the area. Here are some other streets in Chengalpattu Natham:

• Veerabathira Chetty Street- Ward-4: Rs 1,650 per sq.ft (2024)
• Vallular Street Ward-4: Rs 1,650 per sq.ft (2024)
• Thukumaraikuttai: Rs 2,200 per sq.ft (2024)
• Vip Nagar: Rs 2,200 per sq.ft (2024)
• V.O.C Street: Rs 3,850 per sq.ft (2024)
• V.P. Singh Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vedhappar Street?

The Sub Registrar Office that covers Vedhappar Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Chengalpattu Natham. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately for taxation purposes.

When buying or selling property, the registration fees and stamp duty are calculated based on the guideline value. This ensures that both the buyer and seller are aware of the financial implications of the transaction and comply with local regulations.

Frequently asked questions

What is the current guideline value of Vedhappar Street?

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

How has the guideline value changed over the years?

The guideline value for Vedhappar Street has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012.

What is the land classification for Vedhappar Street?

Vedhappar Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,98,000.