Guideline Value for Veda Nagar Ist Street

Veda Nagar Ist Street guideline value

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

How the guideline value of Veda Nagar Ist Street has changed

The guideline value for Veda Nagar Ist Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 1,100 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 264% rise. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%, highlighting the fluctuations in property valuation over the years.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which is the same as the current guideline value for Veda Nagar Ist Street.

• Veda Nagar IInd 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 Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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, leading to a total of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Veda Nagar Ist Street?

The Veda Nagar Ist Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 plays a crucial role during the registration of property transactions in Koyakbedu. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing a property. The guideline value is typically used to ensure that the transaction is recorded at a fair value, preventing undervaluation.

When a property is sold, the guideline value helps determine the official value of the property for taxation purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions in Koyakbedu.

Frequently asked questions

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

The current guideline value of Veda Nagar Ist 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 significantly from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 300% over the years.

What are the other streets in Koyakbedu with similar guideline values?

Other streets in Koyakbedu, such as Veda Nagar IInd Street, Vedha Nagar, and Velan Nagar, also have a guideline value of Rs 4,400 per sq.ft in 2024.

Where can I find the AnnaNagar Sub Registrar Office?

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 guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.