Guideline Value for Vedatham Street

Vedatham Street guideline value

The current guideline value of Vedatham Street in Thiruneermalai village, under the Pammal SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of Vedatham Street has changed

Over the years, the guideline value of Vedatham Street has seen significant changes. The 2003 revision recorded a value of Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following that, the value rose dramatically to Rs 1,340 per sq.ft in 2017, marking an increase of 283%. The 2023 revision set the value at Rs 2,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 2,200 per sq.ft, reflecting a 10% rise.

Notably, there are no figures available for the years 2002 and 2012 in the register for Vedatham Street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 605%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value of Vedatham Street is below this median.

• Velappar 1st Street: Rs 2,200 per sq.ft (2024)
• Velappar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vellalar Street: Rs 2,420 per sq.ft (2024)
• Vellappar 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Vellappar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Vellappar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vedatham Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vedatham Street?

The Sub Registrar Office that covers Vedatham Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value of a property for registration purposes. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation.

During the registration process, buyers and sellers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vedatham Street?

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

How much has the guideline value changed over the years?

Since the 2003 revision, the guideline value has increased from Rs 312 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 605%.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Vedatham Street?

The Pammal Sub Registrar Office covers Vedatham Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Vedatham Street?

Vedatham Street falls under the Residential Class I Type - II land classification.