Guideline Value for Vegetarian Road

Vegetarian Road guideline value

The current guideline value of Vegetarian Road in Puzhal village is Rs 1,100 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification and is registered with the Redhills SRO.

How the guideline value of Vegetarian Road has changed

The guideline value for Vegetarian Road has seen significant changes over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 800 per sq.ft in 2012, marking a substantial rise of 300%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. The next revision in 2017 brought the value up to Rs 1,000 per sq.ft in 2023, an increase of 87%. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street in the register. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Vegetarian Road's 2024 figure slightly below this median.

• Vegetarian Nagar: Rs 1,100 per sq.ft (2024)
• Varalakshmi Street: Rs 1,102 per sq.ft (2024)
• Vanitha Nagar: Rs 1,100 per sq.ft (2024)
• Valluvar Street: Rs 1,100 per sq.ft (2024)
• Vijai Nagar: Rs 1,650 per sq.ft (2024)
• Vijaya Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vegetarian Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vegetarian Road?

The Sub Registrar Office that covers Vegetarian Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in accordance with government regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vegetarian Road?

The current guideline value of Vegetarian Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 450%.

What is the land classification for Vegetarian Road?

Vegetarian Road is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

Where can I find the Sub Registrar Office for Vegetarian Road?

The Sub Registrar Office for Vegetarian Road is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Vegetarian Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7%.