Guideline Value for Vedachalam Nagar Main Road

Vedachalam Nagar Main Road guideline value

The current guideline value of Vedachalam Nagar Main Road is Rs 1,210 per sq.ft, effective from 1 July 2024. This road is located in Mamallapuram village, under the Thirukazhukundram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vedachalam Nagar Main Road has changed

The guideline value for Vedachalam Nagar Main Road has seen several revisions over the years. In 2012, the guideline value was Rs 850 per sq.ft, which decreased to Rs 569 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,100 per sq.ft, reflecting a rise of 93%. The most recent revision in 2024 set the guideline value at Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

There are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 42% from 2012 to 2024.

Guideline values in Mamallapuram

Mamallapuram has a total of 133 streets under the Thirukazhukundram SRO with a 2024 guideline value range from Rs 550 to Rs 1,650 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, placing Vedachalam Nagar Main Road's 2024 figure above that median.

• Venpurusham to Five Radhas Joint Road: Rs 935 per sq.ft (2024)
• Venpurusham Village 1st Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village 2nd Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village 3rd Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village 4th Cross Street: Rs 550 per sq.ft (2024)
• Venpurusham Village B.G.Road: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vedachalam Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200. Together, the total cost for stamp duty and registration would be Rs 1,08,900. 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 Vedachalam Nagar Main Road?

The Sub Registrar Office that covers Vedachalam Nagar Main Road is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mamallapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in the transaction process.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers must be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Vedachalam Nagar Main Road?

The current guideline value of Vedachalam Nagar Main Road is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 1,210 per sq.ft in 2024, with significant changes occurring in 2017 and 2023.

What is the land classification for Vedachalam Nagar Main Road?

The land classification for Vedachalam Nagar Main Road is Residential Class III Type - I.

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

The Sub Registrar Office for Vedachalam Nagar Main Road is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vedachalam Nagar Main Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 84,700 based on the current guideline value.