Guideline Value for Vedha Nagar

Vedha Nagar guideline value

The current guideline value of Vedha Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Koyakbedu village, under the AnnaNagar Sub Registrar Office (SRO). The land classification for this street is Residential Class I Type - II.

How the guideline value of Vedha Nagar has changed

The guideline value for Vedha Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 1,300 per sq.ft, which increased significantly to Rs 4,000 per sq.ft by 2012. However, this figure saw a decrease to Rs 2,680 per sq.ft in 2017. Following that, the guideline value rose to Rs 4,000 per sq.ft in 2023, and further increased to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 238%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the current guideline value for Vedha Nagar.

• Veena Garden: Rs 3,300 per sq.ft (2024)
• Veda Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Veda Nagar IInd Street: Rs 4,400 per sq.ft (2024)
• Vasantha Sampath Garden: Rs 3,300 per sq.ft (2024)
• Velan Nagar: Rs 4,400 per sq.ft (2024)
• Velan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vedha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vedha Nagar?

Vedha Nagar falls under the AnnaNagar 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koyakbedu. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally, reflecting the true value of the property.

Frequently asked questions

What is the current guideline value of Vedha Nagar?

The current guideline value of Vedha Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various revisions in between, including a notable decrease in 2017.

What are the stamp duty rates for property in Vedha Nagar?

The stamp duty for property in Vedha Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Vedha Nagar?

The AnnaNagar Sub Registrar Office handles property registrations for Vedha Nagar, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Koyakbedu?

The median guideline value in Koyakbedu is Rs 4,400 per sq.ft, which is the same as the current guideline value for Vedha Nagar.