Guideline Value for Vazhai Thottampen Street

Vazhai Thottampen Street guideline value

The current guideline value of Vazhai Thottampen Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Vedapalayam village, under the Uthiramerur SRO, and is classified as Residential Special Type - I.

How the guideline value of Vazhai Thottampen Street has changed

Over the years, the guideline value of Vazhai Thottampen Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision had a lower value of Rs 402 per sq.ft, indicating a decrease of 33% from the 2012 figure. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 600 per sq.ft in 2023. The most recent revision in 2024 maintains this value at Rs 600 per sq.ft, indicating no percentage change from the previous year.

Guideline values in Vedapalayam

In Vedapalayam, there are 29 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 900 per sq.ft, with a median value of Rs 400 per sq.ft. Vazhai Thottampen Street's 2024 figure of Rs 600 per sq.ft is above this median.

• Vedapalayam Arunachanaickar Street: Rs 300 per sq.ft (2024)
• Vedapalayam Bajanai Koil Sandu: Rs 300 per sq.ft (2024)
• Vedapalayam Bajanai Koil Street: Rs 300 per sq.ft (2024)
• Vedapalayam Bangala Street: Rs 300 per sq.ft (2024)
• Vedapalayam Highways Road Street: Rs 500 per sq.ft (2024)
• Vedapalayam Kalani Madha Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vazhai Thottampen Street

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, resulting in a total of Rs 54,000. It is important to note that the 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 Vazhai Thottampen Street?

The Sub Registrar Office that covers Vazhai Thottampen Street is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Vedapalayam, the guideline value plays a crucial role in determining the financial obligations for registration. The guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction.

It is essential to be aware that the guideline value is set by the government and is subject to periodic revisions. This value ensures that the registration process is transparent and reflects the current market conditions within the area.

Frequently asked questions

What is the current guideline value of Vazhai Thottampen Street?

The current guideline value of Vazhai Thottampen Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a decrease to Rs 402 per sq.ft in 2017. It increased by 49% from 2017 to 2023 and has remained stable since then.

What is the classification of land on Vazhai Thottampen Street?

The land on Vazhai Thottampen Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for this street?

The Uthiramerur Sub Registrar Office covers Vazhai Thottampen Street, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 600 per sq.ft would incur a total guideline value of Rs 6,00,000, leading to specific stamp duty and registration fees.