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 area is located in Vadaperumbakkam village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of Vedachalam Nagar has changed

The guideline value for Vedachalam Nagar has seen several revisions over the years. In the 2003 revision, the value was Rs 26 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. The 2012 revision set the value at Rs 1,000 per sq.ft, and it remained the same in 2023. The most recent revision in 2024 also maintains the value at Rs 1,000 per sq.ft. The register has no figure for this street in 2002.

From 2003 to 2007, there was a remarkable increase of 2208%, followed by a decrease of 33% from 2012 to 2017, where the value dropped to Rs 670 per sq.ft. The value then increased by 49% to Rs 1,000 per sq.ft in 2023, and it has not changed in the 2024 revision.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value for these streets is Rs 1,003 per sq.ft, making Vedachalam Nagar's 2024 figure below that median.

• Vetri Nagar: Rs 1,006 per sq.ft (2024)
• Vetrivel Nagar: Rs 1,006 per sq.ft (2024)
• Zahida Industrial Garden: Rs 1,003 per sq.ft (2024)
• Thanikachalam Nagar: Rs 1,000 per sq.ft (2024)
• T.G. Swamy Nagar: Rs 1,004 per sq.ft (2024)
• Suyambulingam Nagar Annex - 3: Rs 1,006 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 at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vedachalam Nagar?

The Vedachalam Nagar area falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Vadaperumbakkam. It determines the minimum value at which a property can be registered, ensuring transparency in transactions.

When buying or selling a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

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 26 per sq.ft in 2003 to Rs 1,000 per sq.ft in 2024, with various revisions occurring in between.

What is the land classification of Vedachalam Nagar?

Vedachalam Nagar is classified as Residential Special Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Vedachalam Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vedachalam Nagar located?

The Redhills Sub Registrar Office, which covers Vedachalam Nagar, is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.