Guideline Value for Vedan Kannappar Street

Vedan Kannappar Street guideline value

The current guideline value of Vedan Kannappar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Vedan Kannappar Street has changed

The guideline value for Vedan Kannappar Street has seen several revisions over the years. In 2007, the value was Rs 1,060 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. However, this figure dropped to Rs 1,005 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 1,500 per sq.ft, followed by a further rise to the current value of Rs 1,650 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Overall, from 2007 to 2024, the guideline value has increased by 56%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, making the guideline value of Vedan Kannappar Street below this median.

• Veerapatran Street: Rs 2,530 per sq.ft (2024)
• Velacherry Road: Rs 6,600 per sq.ft (2024)
• Vellalar Street: Rs 880 per sq.ft (2024)
• Vaniyan Kutti Street: Rs 1,650 per sq.ft (2024)
• Vaigai Street: Rs 2,530 per sq.ft (2024)
• U.V.Swaminathan Iyer Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vedan Kannappar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. 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 Vedan Kannappar Street?

The Sub Registrar Office that covers Vedan Kannappar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value is a crucial factor during the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This ensures that all transactions are fairly assessed based on the established guideline values.

Frequently asked questions

What is the current guideline value of Vedan Kannappar Street?

The current guideline value of Vedan Kannappar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,060 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 56% over the years.

What is the land classification for Vedan Kannappar Street?

Vedan Kannappar Street is classified as Residential Class I Type - I.

What is the median guideline value in Irumpuliyur?

The median guideline value in Irumpuliyur is Rs 2,200 per sq.ft, which is higher than the current value of Vedan Kannappar Street.

How is stamp duty calculated for properties in Vedan Kannappar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.