Guideline Value for Vedachalam Nagar 4th Street

Vedachalam Nagar 4th Street guideline value

The current guideline value of Vedachalam Nagar 4th Street is Rs 4,900 per sq.ft. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of Vedachalam Nagar 4th Street has changed

The guideline value for Vedachalam Nagar 4th Street has seen 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, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft. The 2023 revision saw a rise to Rs 4,500 per sq.ft, and the most recent 2024 revision has set the value at Rs 4,900 per sq.ft.

In terms of percentage changes, the guideline value increased by 272% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, there was a significant increase of 49% from 2017 to 2023. Finally, the value rose by 9% from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

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

• Vedachalam Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 5th Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Avenue: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vedachalam Nagar 4th Street

For a property measuring 1,000 sq.ft 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 amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vedachalam Nagar 4th Street?

The Sub Registrar Office that covers Vedachalam Nagar 4th Street is the Ashok Nagar 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 Kodambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It helps determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value serves as a benchmark for property transactions, ensuring that the fees are calculated based on an official valuation.

When a property is sold, the buyer and seller must consider the guideline value to ensure compliance with local regulations. It is advisable to consult the guideline value register to understand the applicable rates for specific properties, as this can vary significantly between different streets and areas.

Frequently asked questions

What is the current guideline value of Vedachalam Nagar 4th Street?

The current guideline value of Vedachalam Nagar 4th Street is Rs 4,900 per sq.ft as per the 2024 revision.

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, reflecting a total increase of 305% over the years.

What is the land classification for Vedachalam Nagar 4th Street?

Vedachalam Nagar 4th Street is classified as Residential Class III Type - II.

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

The Sub Registrar Office for Vedachalam Nagar 4th Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is 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 property valued at Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.