Guideline Value for Vedachalam Nagar

Vedachalam Nagar guideline value

The current guideline value of Vedachalam Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This locality is situated in Adhanoor village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vedachalam Nagar has changed

The guideline value for Vedachalam Nagar has seen several changes over the years. In 2007, the guideline value was Rs 300 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, it then decreased to Rs 670 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the guideline value at Rs 1,000 per sq.ft, showing no change between these two revisions.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 1,000 per sq.ft in 2023. The overall change from the 2007 revision to the current 2024 revision reflects an increase of 233%, demonstrating a significant rise in the guideline value over the years.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, which is equal to the current guideline value of Vedachalam Nagar.

• Vatchala Garden Phase -II: Rs 1,000 per sq.ft (2024)
• Vatchala Garden II: Rs 1,000 per sq.ft (2024)
• Vatchala Garden: Rs 1,000 per sq.ft (2024)
• Vasudevan Nagar: Rs 1,000 per sq.ft (2024)
• Velan Nagar: Rs 1,000 per sq.ft (2024)
• Venkatesh Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vedachalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty, charged at 7%, would be Rs 70,000, while the registration fee at 2% would be Rs 20,000, making the total charges Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vedachalam Nagar?

The Sub Registrar Office that covers Vedachalam Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Adhanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure they are not overpaying and for sellers to set a realistic price that aligns with the official valuation.

Frequently asked questions

What is the current guideline value of Vedachalam Nagar?

The current guideline value of Vedachalam Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and has remained at Rs 1,000 per sq.ft in both 2023 and 2024.

What is the median guideline value in Adhanoor?

The median guideline value in Adhanoor is Rs 1,000 per sq.ft, with values for 169 streets ranging from Rs 670 to Rs 3,000 per sq.ft.

What are the stamp duty and registration fees for a property in Vedachalam Nagar?

For a property valued at Rs 10,00,000, the stamp duty is Rs 70,000 and the registration fee is Rs 20,000, totaling Rs 90,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.