Guideline Value for Vegavathi Road

Vegavathi Road guideline value

The current guideline value of Vegavathi Road is Rs 880 per sq.ft, effective from 1 July 2024. This road is located in the 2nd Division village under the Kanchipuram Joint IV SRO, and the land classification is Residential Class III Type - I.

How the guideline value of Vegavathi Road has changed

The guideline value for Vegavathi Road has undergone several revisions over the years. The earliest available figure is from 2007, when the value was Rs 500 per sq.ft. This increased to Rs 800 per sq.ft in 2012, but then decreased to Rs 536 per sq.ft in 2017. The value saw a significant rise to Rs 800 per sq.ft in 2023 and has now increased to Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 76%. The revisions for 2002 and 2003 have no figures listed for this street in the register.

Guideline values in 2nd Division

In the 2nd Division under the Kanchipuram Joint IV SRO, there are 101 streets with a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Vegavathi Road's 2024 figure below this median.

• Velingapattarai Street: Rs 1,870 per sq.ft (2024)
• Vazhakarutheeswarar Koil Street: Rs 5,500 per sq.ft (2024)
• Vallal Pachaiyappan Street Santhu (a) Back: Rs 5,500 per sq.ft (2024)
• Vallal Pachaiyappan Street: Rs 5,500 per sq.ft (2024)
• Vallal Pachaiyappan Santhu: Rs 3,300 per sq.ft (2024)
• Vaikumdapuram Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vegavathi Road

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, and the registration fee at 2% would be Rs 17,600. Together, the total fees would be Rs 79,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vegavathi Road?

The Vegavathi Road is covered by the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a critical component in the process of property registration in the 2nd Division. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Vegavathi Road?

The current guideline value of Vegavathi Road 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 500 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting a 76% increase over this period.

What are the other streets in 2nd Division and their guideline values?

Other streets in 2nd Division include Velingapattarai Street at Rs 1,870 per sq.ft, Vazhakarutheeswarar Koil Street at Rs 5,500 per sq.ft, and Vallal Pachaiyappan Street at Rs 5,500 per sq.ft, among others.

What fees are associated with buying property on Vegavathi Road?

When buying property on Vegavathi Road, the total fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Vegavathi Road?

The registration for Vegavathi Road is handled by the Kanchipuram Joint IV Sub Registrar Office, located in Kanchipuram-631 501, Chengalpattu registration zone.