Guideline Value for VEDHATHRI NAGAR

Vedhathri Nagar guideline value

The current guideline value of Vedhathri Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This locality is situated in Venkatapuram village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vedhathri Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 335 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 500 per sq.ft, maintaining that rate through to the 2024 revision, which also holds the value at Rs 500 per sq.ft. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Vedhathri Nagar is above this median.

• Vasantham Nagar: Rs 400 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 per sq.ft (2024)
• St.John Colony: Rs 400 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar: Rs 400 per sq.ft (2024)
• Sathiya Narayana Nagar: Rs 400 per sq.ft (2024)
• Sapthagiri Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhathri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 further calculations.

Which Sub Registrar Office covers Vedhathri Nagar?

Vedhathri Nagar falls under 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 Venkatapuram

The guideline value is a critical factor in property transactions in Venkatapuram. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable at the time of sale.

When buying or selling property, the guideline value ensures that both parties are aware of the baseline valuation of the property. This helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vedhathri Nagar?

The current guideline value of Vedhathri Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions maintaining the value at Rs 500 per sq.ft since 2012, with fluctuations in between.

What is the land classification for Vedhathri Nagar?

Vedhathri Nagar is classified as Residential Special Type - I, indicating its use for residential purposes.

What are the stamp duty rates applicable in Vedhathri Nagar?

The stamp duty rate in Vedhathri Nagar is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Vedhathri Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Vedhathri Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.