Guideline Value for Vedhachalam Nagar Extn

Vedhachalam Nagar Extn guideline value

The current guideline value of Vedhachalam Nagar Extn is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village and falls under the Kunrathur SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Vedhachalam Nagar Extn has changed

The guideline value for Vedhachalam Nagar Extn has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and most recently to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

In terms of percentage changes, the increase from 2017 to 2023 was 99%, while the decrease from 2012 to 2017 was 33%. Overall, from 2012 to 2024, the guideline value has increased by 47%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing the guideline value of Vedhachalam Nagar Extn below this median.

• Vedhachalam Nagar: Rs 880 per sq.ft (2024)
• Vasanthapuri Phase I: Rs 1,210 per sq.ft (2024)
• Vasanthapuri: Rs 1,210 per sq.ft (2024)
• Varalakshmi Avenue: Rs 1,210 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 880 per sq.ft (2024)
• VanasanthaPuri Extn: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhachalam Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 details.

Which Sub Registrar Office covers Vedhachalam Nagar Extn?

The Sub Registrar Office that covers Vedhachalam Nagar Extn is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration of property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value is referred to ensure that the appropriate taxes are calculated based on the official rates set by the government. This ensures transparency and compliance with the regulations governing property transactions.

Frequently asked questions

What is the current guideline value of Vedhachalam Nagar Extn?

The current guideline value of Vedhachalam Nagar Extn is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 880 per sq.ft in 2024, with significant changes in between, including a drop to Rs 402 per sq.ft in 2017 and an increase to Rs 800 per sq.ft in 2023.

What is the registration fee for properties in Vedhachalam Nagar Extn?

The registration fee for properties is calculated based on the guideline value. For example, a property valued at Rs 8,80,000 would incur a registration fee of Rs 17,600 at a rate of 2%.

Where can I find the Sub Registrar Office for Vedhachalam Nagar Extn?

The Sub Registrar Office for Vedhachalam Nagar Extn is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information about your SRO online.

What is the land classification for Vedhachalam Nagar Extn?

The land classification for Vedhachalam Nagar Extn is Residential Class I Type - II, indicating its suitability for residential development.