Guideline Value for Vedavinayagar Koil Street

Vedavinayagar Koil Street guideline value

The current guideline value of Vedavinayagar Koil Street is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vedavinayagar Koil Street has changed

The guideline value for Vedavinayagar Koil Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 85 per sq.ft. This increased significantly to Rs 750 per sq.ft in 2012, marking a rise of 782%. However, from 2012 to 2017, the value decreased to Rs 502 per sq.ft, a drop of 33%. The value then rose to Rs 750 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 830 per sq.ft, which is an 11% increase from the previous year.

It is important to note that the register does not provide figures for Vedavinayagar Koil Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 876%.

Guideline values in Padappai

In Padappai village, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the current guideline value of Vedavinayagar Koil Street.

• Vedhachalam Nagar: Rs 1,320 per sq.ft (2024)
• Vandalur - Walajabad Road: Rs 3,300 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Vijay Sri Avenue: Rs 990 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 830 per sq.ft (2024)
• Vinayaga Nagar: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Vedavinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, totaling Rs 74,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vedavinayagar Koil Street?

The Sub Registrar Office that covers Vedavinayagar Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Padappai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This ensures that the fees are calculated based on a standardized valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vedavinayagar Koil Street?

The current guideline value of Vedavinayagar Koil Street is Rs 830 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 85 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, marking a total increase of 876% over this period.

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

For a 1,000 sq.ft plot at the guideline value of Rs 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty would be Rs 58,100, and the registration fee would be Rs 16,600, totaling Rs 74,700.

Which office do I need to visit for property registration in Padappai?

The Padappai Sub Registrar Office is responsible for property registration in Padappai. It is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

Are there other streets in Padappai with different guideline values?

Yes, there are other streets in Padappai with different guideline values. The 2024 guideline values for other streets range from Rs 440 to Rs 4,000 per sq.ft, with Vedavinayagar Koil Street's value aligning with the median of Rs 830 per sq.ft.