Guideline Value for Vedachalam Street

Vedachalam Street guideline value

The current guideline value of Vedachalam Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Vedachalam Street has changed

The guideline value for Vedachalam Street has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The current 2024 revision reflects a further increase to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Vedachalam Street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Vedachalam Street is below this median.

• Vasu Street: Rs 1,100 per sq.ft (2024)
• VeeraPandiya Kattabomman Street: Rs 1,320 per sq.ft (2024)
• Vanjinathan Street: Rs 1,100 per sq.ft (2024)
• Vanaja Nagar Kuttai Medu: Rs 1,100 per sq.ft (2024)
• Vanaja Nagar: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vedachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 details.

Which Sub Registrar Office covers Vedachalam Street?

The Sub Registrar Office that covers Vedachalam Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price to ensure that the appropriate fees are calculated based on the higher amount. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vedachalam Street?

The current guideline value of Vedachalam Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What are the other streets in Pozhichalur with their guideline values?

Other streets in Pozhichalur include Vasu Street and Vanjinathan Street, both valued at Rs 1,100 per sq.ft in 2024, while VeeraPandiya Kattabomman Street is valued at Rs 1,320 per sq.ft.

What is the stamp duty for property transactions in Vedachalam Street?

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

Which office handles registrations for Vedachalam Street?

The Pammal Sub Registrar Office handles registrations for Vedachalam Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.