Guideline Value for VEDHATHIRI BHAVAN

Vedhathiri Bhavan guideline value

The current guideline value of Vedhathiri Bhavan is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Poonthamallee village under the Poonamallee SRO, classified as Residential Class II Type - I.

How the guideline value of Vedhathiri Bhavan has changed

The guideline value for Vedhathiri Bhavan has seen several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, which increased by 10% to Rs 2,200 per sq.ft in the 2024 revision.

This means that the guideline value has increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. This current figure aligns with the median guideline value for the village, which ranges from Rs 1,980 to Rs 4,950 per sq.ft.

Guideline values in Poonthamallee

Poonthamallee has a total of 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The guideline value of Vedhathiri Bhavan is equal to the median value of Rs 2,200 per sq.ft. Below are the guideline values for other streets in Poonthamallee:

• Vathukaar street: Rs 2,200 per sq.ft (2024)
• Vasanthapuri phase I & II: Rs 2,200 per sq.ft (2024)
• Vanniar street (east): Rs 2,200 per sq.ft (2024)
• Vaithiswaran Nagar: Rs 2,200 per sq.ft (2024)
• Vaitheeswaran koil street: Rs 2,740 per sq.ft (2024)
• Vaidthee Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhathiri Bhavan

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, and the registration fee at 2% would be Rs 44,000, making the total Rs 1,98,000. 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 Vedhathiri Bhavan?

The Sub Registrar Office that covers Vedhathiri Bhavan is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vedhathiri Bhavan?

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

How much has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase.

What is the classification of land for Vedhathiri Bhavan?

Vedhathiri Bhavan is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Vedhathiri Bhavan?

The Sub Registrar Office for Vedhathiri Bhavan is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Vedhathiri Bhavan?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.