Guideline Value for Veda Nagar IInd Street

Veda Nagar IInd Street guideline value

The current guideline value of Veda Nagar IInd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class I Type - II.

How the guideline value of Veda Nagar IInd Street has changed

The guideline value for Veda Nagar IInd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft.

From 2023 to 2024, there was an increase of 10%. The jump from 2017 to 2023 was 49%, while the change from 2012 to 2017 was a decrease of 33%. The increase from 2007 to 2012 was substantial at 264%. Overall, from 2007 to 2024, the guideline value has increased by 300%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Veda Nagar IInd Street.

• Veda Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Vedha Nagar: Rs 4,400 per sq.ft (2024)
• Veena Garden: Rs 3,300 per sq.ft (2024)
• Vasantha Sampath Garden: Rs 3,300 per sq.ft (2024)
• Velan Nagar: Rs 4,400 per sq.ft (2024)
• Varasithi Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Veda Nagar IInd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veda Nagar IInd Street?

The Veda Nagar IInd Street is covered by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when acquiring property in the area.

When selling a property, the guideline value helps in establishing a fair price for the transaction, ensuring that both the buyer and seller are aware of the official value set by the authorities. This transparency in valuation aids in smoother property transactions.

Frequently asked questions

What is the current guideline value of Veda Nagar IInd Street?

The current guideline value of Veda Nagar IInd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Veda Nagar IInd Street?

Veda Nagar IInd Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where is the AnnaNagar Sub Registrar Office located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Koyakbedu?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 44,00,000, the stamp duty at 7% would amount to Rs 3,08,000.