Guideline Value for Vedapalayam Pandara Street

Vedapalayam Pandara Street guideline value

The current guideline value of Vedapalayam Pandara Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Vedapalayam village and falls under the Uthiramerur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vedapalayam Pandara Street has changed

Over the years, the guideline value for Vedapalayam Pandara Street has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. However, in the 2023 revision, the value returned to Rs 200 per sq.ft, maintaining this rate through to the 2024 revision, which also stands at Rs 200 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Vedapalayam

In Vedapalayam, there are 29 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 900 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Vedapalayam Pandara Street is below this median.

• Vedapalayam Thalayarai Street: Rs 200 per sq.ft (2024)
• Vedapalayam Kalani Raji Street: Rs 200 per sq.ft (2024)
• Vedapalayam Kalani Madha Koil Street: Rs 200 per sq.ft (2024)
• Vedapalayam Highways Road Street: Rs 500 per sq.ft (2024)
• Vedapalayam Bangala Street: Rs 300 per sq.ft (2024)
• Vedapalayam Bajanai Koil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vedapalayam Pandara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 information.

Which Sub Registrar Office covers Vedapalayam Pandara Street?

The Uthiramerur Sub Registrar Office covers Vedapalayam Pandara Street. The office is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when it comes to property transactions in Vedapalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, making the process smoother and more efficient.

Frequently asked questions

What is the current guideline value of Vedapalayam Pandara Street?

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

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 200 per sq.ft in 2024, unchanged from the 2023 revision. The value was Rs 134 per sq.ft in 2017, showing a 49% increase by 2023.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,00,000, resulting in a stamp duty of Rs 14,000 and a registration fee of Rs 4,000, totaling Rs 18,000.

Which office handles property registrations in Vedapalayam?

The Uthiramerur Sub Registrar Office is responsible for property registrations in Vedapalayam. It is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for property registration, ensuring transparency in transactions. It is used to calculate the applicable stamp duty and registration fees, which are essential for completing property transactions legally.