Guideline Value for VEDHATHIRI NAGAR (VAL)

Vedhathiri Nagar (Val) guideline value

The current guideline value of Vedhathiri Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Vallancheri village and falls under the Chengleput Joint II SRO, with a land classification of Residential Class I Type - II.

How the guideline value of Vedhathiri Nagar (Val) has changed

The guideline value of Vedhathiri Nagar (Val) has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 800 per sq.ft, and in the latest 2024 revision, it rose again to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 800 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 825 per sq.ft, placing Vedhathiri Nagar (Val) above this median.

• Veerapthra Nagar (Ward-21): Rs 770 per sq.ft (2024)
• Velan Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Varsha Avenue (Po): Rs 880 per sq.ft (2024)
• Vembuliamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Varaavathi Street (Ward -1): Rs 770 per sq.ft (2024)
• Vallancheri Colony Road (Ward -1): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhathiri Nagar (Val)

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, resulting in a total of Rs 79,200. It is important to note that 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 more details.

Which Sub Registrar Office covers Vedhathiri Nagar (Val)?

The Sub Registrar Office that covers Vedhathiri Nagar (Val) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is compared to the sale price. The higher amount is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Vedhathiri Nagar (Val)?

The current guideline value of Vedhathiri Nagar (Val) is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Vedhathiri Nagar (Val)?

Vedhathiri Nagar (Val) is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Vedhathiri Nagar (Val)?

The Sub Registrar Office for Vedhathiri Nagar (Val) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Vedhathiri Nagar (Val)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.