Guideline Value for Vedhachalam Street

Vedhachalam Street guideline value

The current guideline value of Vedhachalam Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the jurisdiction of the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vedhachalam Street has changed

The guideline value for Vedhachalam Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, representing a 7% increase from the previous year.

It is important to note that the register does not have figures for Vedhachalam Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, indicating that Vedhachalam Street's 2024 figure is below the median.

• Veerabedran Street: Rs 1,100 per sq.ft (2024)
• Vasuki Street: Rs 1,800 per sq.ft (2024)
• Velachery Main Road: Rs 6,500 per sq.ft (2024)
• Vasanthi Colony: Rs 850 per sq.ft (2024)
• Velmurugan street: Rs 950 per sq.ft (2024)
• Varalakshmi Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhachalam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vedhachalam Street?

The Sub Registrar Office that covers Vedhachalam Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Selaiyur. It serves as a reference point for determining the stamp duty and registration fees that buyers and sellers must pay when registering a property. This value is set by the government and is regularly updated to reflect changes in the real estate market.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair price, preventing undervaluation or overvaluation. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vedhachalam Street?

The current guideline value of Vedhachalam Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the median guideline value in Selaiyur?

The median guideline value for the 478 streets in Selaiyur is Rs 2,200 per sq.ft, which means Vedhachalam Street's current value is below this median.

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

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,00,000. The stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles registrations for Vedhachalam Street?

The Selaiyur Sub Registrar Office handles registrations for Vedhachalam Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.