Guideline Value for Vedhathiri Colony

Vedhathiri Colony guideline value

The current guideline value of Vedhathiri Colony, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 2,001 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Vedhathiri Colony has changed

The guideline value for Vedhathiri Colony has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which set the value at Rs 1,340 per sq.ft. This was followed by a significant increase to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 has maintained the guideline value at Rs 2,001 per sq.ft, reflecting no change from the previous year.

Between the 2017 and 2023 revisions, the guideline value increased by 49%. Overall, from the 2017 revision to the 2024 revision, there has been an increase of 49% as well. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for Vedhathiri Colony is above this median, indicating its relative position in the area.

• Venugopal Naidu Street: Rs 2,001 per sq.ft (2024)
• Unnamalai Nagar: Rs 1,200 per sq.ft (2024)
• Thulakathaman kovil street: Rs 1,500 per sq.ft (2024)
• Thiru-Vi-Ka Street: Rs 1,200 per sq.ft (2024)
• Visveswaran Iyer Street: Rs 1,500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vedhathiri Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, and the registration fee at 2% would be Rs 40,020. Together, this totals Rs 1,80,090. 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 details.

Which Sub Registrar Office covers Vedhathiri Colony?

The Sub Registrar Office that covers Vedhathiri Colony is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Gooduvancheri. It is used to determine the stamp duty and registration fees that are applicable to the transaction. The guideline value is set by the government and is updated periodically to reflect changes in the property market.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vedhathiri Colony?

The current guideline value of Vedhathiri Colony is Rs 2,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 49%, rising from Rs 1,340 per sq.ft to Rs 2,001 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Vedhathiri Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 20,01,000, the total fees would be Rs 1,80,090.

Which Sub Registrar Office covers Vedhathiri Colony?

The Gooduvancheri Sub Registrar Office covers Vedhathiri Colony, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the guideline value determined for properties in Gooduvancheri?

The guideline value for properties in Gooduvancheri is determined by the government and is updated periodically based on various factors. It is used to calculate stamp duty and registration fees during property transactions.