Guideline Value for Vedachalam Nagar 1st Street

Vedachalam Nagar 1st Street guideline value

The current guideline value of Vedachalam Nagar 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Vedachalam Nagar 1st Street has changed

The guideline value has undergone several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. The value then rose to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

Between the revisions, the changes are notable. From 2007 to 2012, there was a remarkable increase of 272%. However, from 2012 to 2017, the value decreased by 33%. The value saw a significant increase of 49% from 2017 to 2023, and from 2023 to 2024, it rose by 9%. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which is equal to the current value of Vedachalam Nagar 1st Street.

• Vedachalam Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Avenue: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vedachalam Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, making the total cost Rs 4,41,000. 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 information.

Which Sub Registrar Office covers Vedachalam Nagar 1st Street?

The Sub Registrar Office that covers Vedachalam Nagar 1st Street is the Ashok Nagar 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 further assistance.

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

When buying or selling property in Kodambakkam, the guideline value is used as a reference for calculating stamp duty and registration fees. This value is determined by the local government and is updated periodically to reflect market conditions.

At the time of registration, the guideline value is compared to the sale price of the property. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vedachalam Nagar 1st Street?

The current guideline value of Vedachalam Nagar 1st Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, with several fluctuations in between.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam for the year 2024 is Rs 4,900 per sq.ft, which is the same as the value for Vedachalam Nagar 1st Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where can I find the Sub Registrar Office for Vedachalam Nagar 1st Street?

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