Guideline Value for Vedagiri Nagar

Vedagiri Nagar guideline value

The current guideline value of Vedagiri Nagar, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Vedagiri Nagar has changed

Since the 2002 revision, the guideline value has seen significant changes. The 2002 revision started at Rs 80 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a 310% increase. By 2012, the value rose to Rs 1,200 per sq.ft, reflecting a 266% increase. However, it then dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value remained stable at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by 1400%. The register has no figure for the year 2003 for this street.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Vedagiri Nagar's 2024 figure below this median.

• Veerabagu Nagar: Rs 2,000 per sq.ft (2024)
• Veerabagu Nagar Extn: Rs 2,000 per sq.ft (2024)
• Vasantham Nagar: Rs 1,500 per sq.ft (2024)
• Valluvar Nagar: Rs 1,200 per sq.ft (2024)
• Valluvar Colony: Rs 1,200 per sq.ft (2024)
• Venkateswara Nagar Part-I: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vedagiri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. 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 information.

Which Sub Registrar Office covers Vedagiri Nagar?

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

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

The guideline value is a crucial factor when registering property transactions in Nandhivaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is used to determine the minimum value for which the property can be registered. This helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vedagiri Nagar?

The current guideline value of Vedagiri Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with notable fluctuations in between, including a drop to Rs 804 per sq.ft in 2017.

What is the median guideline value in Nandhivaram?

The median guideline value for streets in Nandhivaram is Rs 1,500 per sq.ft, with Vedagiri Nagar's value being below this median.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Where is the Sub Registrar Office for Vedagiri Nagar located?

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