Guideline Value for Vedhachalam Nagar

Vedhachalam Nagar guideline value

The current guideline value of Vedhachalam Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This locality is situated in Malayambakkam village, under the Kunrathur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vedhachalam Nagar has changed

The guideline value for Vedhachalam Nagar has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 250 per sq.ft. It increased significantly to Rs 600 per sq.ft in 2012, marking a rise of 140%. However, there was a decrease to Rs 402 per sq.ft in 2017, which was a drop of 33%. The value then saw a substantial increase to Rs 800 per sq.ft in 2023, reflecting a rise of 99%. The most recent revision in 2024 has set the guideline value at Rs 880 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 252%.

Guideline values in Malayambakkam

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

• Vedhachalam Nagar Extn: 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

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, bringing the total fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vedhachalam Nagar?

The Vedhachalam Nagar area falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer purchases property, the guideline value is used to calculate the necessary fees. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Vedhachalam Nagar?

The current guideline value of Vedhachalam Nagar 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 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What are the stamp duty and registration fees for property in Vedhachalam Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations for Vedhachalam Nagar?

The Kunrathur Sub Registrar Office handles property registrations for Vedhachalam Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Vedhachalam Nagar?

Vedhachalam Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.