Guideline Value for Vethadam colony 2nd street

Vethadam colony 2nd street guideline value

The current guideline value of Vethadam colony 2nd street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vethadam colony 2nd street has changed

Over the years, the guideline value for Vethadam colony 2nd street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a drop of 33%. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,750 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions from the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Vethadam colony 2nd street's 2024 figure above this median.

• Vethanda Colony Muthal Cross Street: Rs 2,750 per sq.ft (2024)
• Vethandam Colony 3rd Street: Rs 2,750 per sq.ft (2024)
• Venkadeshwaralu Street: Rs 1,100 per sq.ft (2024)
• Vigneshpuram: Rs 1,100 per sq.ft (2024)
• Velappan Street: Rs 3,850 per sq.ft (2024)
• Velappan Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vethadam colony 2nd street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total charges to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vethadam colony 2nd street?

The Vethadam colony 2nd street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

When buying or selling property in Chitlapakkam, the guideline value plays a crucial role in determining the registration charges. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly affect the overall cost of the transaction. Proper understanding of these values ensures compliance with local regulations and helps in accurate financial planning.

Frequently asked questions

What is the current guideline value of Vethadam colony 2nd street?

The current guideline value of Vethadam colony 2nd street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft in 2024.

What is the land classification for Vethadam colony 2nd street?

Vethadam colony 2nd street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Vethadam colony 2nd street?

The registration for Vethadam colony 2nd street is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.