Guideline Value for Vedachalam Street

Vedachalam Street guideline value

The current guideline value of Vedachalam Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of Vedachalam Street has changed

In the 2007 revision, the guideline value was Rs 1,210 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in the 2012 revision, marking a change of 272%. The value remained at Rs 4,500 per sq.ft during the 2023 revision. As of the 2024 revision, the guideline value has risen to Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for Vedachalam Street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values 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 equal to the current value of Vedachalam Street.

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

For a 1,000 sq.ft plot 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, totaling 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 also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vedachalam Street?

The Sub Registrar Office that covers Vedachalam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees when buying or selling property. This value is set by the registration department and is updated periodically.

When a property is registered, the guideline value or the sale price is considered, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate 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 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 1,210 per sq.ft to Rs 4,900 per sq.ft in 2024, reflecting a total increase of 305% over the years.

What are the stamp duty rates for properties on Vedachalam Street?

The stamp duty for properties on Vedachalam Street is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is the same as the current guideline value for Vedachalam Street.