Guideline Value for Vedanayagam Street

Vedanayagam Street guideline value

The current guideline value of Vedanayagam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class V Type - I.

How the guideline value of Vedanayagam Street has changed

The guideline value for Vedanayagam Street has undergone several revisions over the years. The earliest recorded value was in 2007, set at Rs 620 per sq.ft. This figure saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a change of +223%. The guideline value remained unchanged at Rs 2,000 per sq.ft until the 2023 revision, which increased it to Rs 2,200 per sq.ft, reflecting a +10% change.

There are no recorded figures for Vedanayagam Street in the years 2002, 2003, and 2017. Overall, from the 2007 revision to the current 2024 value, the guideline value has increased by +255%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that Vedanayagam Street's 2024 figure is below that median.

• Vedachalam Street: Rs 4,900 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Vedanayagam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty is charged at 7%, amounting to Rs 1,54,000, while the registration fee at 2% comes to Rs 44,000. Together, these fees total Rs 1,98,000. 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vedanayagam Street?

The Sub Registrar Office that covers Vedanayagam 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 further assistance.

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

The guideline value is a critical component in the registration of property transactions in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the property transfer.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall cost of the transaction. Buyers should be prepared for these costs as part of their financial planning when engaging in property transactions in the area.

Frequently asked questions

What is the current guideline value of Vedanayagam Street?

The current guideline value of Vedanayagam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of +255%.

What are the stamp duty and registration fees for property in Vedanayagam Street?

The stamp duty for a property valued at Rs 22,00,000 would be Rs 1,54,000, and the registration fee would be Rs 44,000. Together, these fees total Rs 1,98,000.

Which Sub Registrar Office covers Vedanayagam Street?

The Ashok Nagar Sub Registrar Office covers Vedanayagam Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Vedanayagam Street?

Vedanayagam Street is classified as Residential Class V Type - I, indicating its designation for residential use within the area.