Guideline Value for NEW VETRI NAGAR

New Vetri Nagar guideline value

The current guideline value of New Vetri Nagar, located in Neeradi village under the Uthiramerur SRO, is Rs 201 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - V.

How the guideline value of New Vetri Nagar has changed

Since the 2017 revision, the guideline value for New Vetri Nagar has remained consistent at Rs 201 per sq.ft, with no changes noted in the revisions from 2017 to 2024. The 2023 revision also maintained the guideline value at Rs 201 per sq.ft, indicating a stable rate over the years.

Prior to 2017, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Therefore, the overall change from 2017 to 2024 stands at +0%, confirming the guideline value has not fluctuated during this period.

Guideline values in Neeradi

In Neeradi village, there are 20 streets that carry a 2024 guideline value ranging from Rs 201 to Rs 350 per sq.ft, with a median value of Rs 202 per sq.ft. New Vetri Nagar's guideline value is below this median, indicating a relatively lower rate compared to other streets in the area.

• Neeradi West Street: Rs 202 per sq.ft (2024)
• Neeradi South Street: Rs 202 per sq.ft (2024)
• Neeradi East Street: Rs 202 per sq.ft (2024)
• Neeradi Battai Street: Rs 202 per sq.ft (2024)
• Naloor Kulakkarai: Rs 202 per sq.ft (2024)
• Nalloor Kalani: Rs 202 per sq.ft (2024)

Stamp duty and registration fee for property in New Vetri Nagar

For a 1,000 sq.ft plot at the current rate of Rs 201 per sq.ft, the guideline value amounts to Rs 2,01,000. The stamp duty is charged at 7%, totaling Rs 14,070, while the registration fee at 2% amounts to Rs 4,020. Together, these fees total Rs 18,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Vetri Nagar?

The Sub Registrar Office that covers New Vetri Nagar is the Uthiramerur Sub Registrar Office, located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a standard used during the registration of property transactions in Neeradi. It helps determine the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value for New Vetri Nagar?

The current guideline value for New Vetri Nagar is Rs 201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for New Vetri Nagar has remained unchanged at Rs 201 per sq.ft since 2017, with no revisions noted in the years prior to that for this street.

What is the land classification for New Vetri Nagar?

The land classification for New Vetri Nagar is Residential Special Type - V, which indicates the intended use of the land in this area.

Where can I find the Sub Registrar Office for New Vetri Nagar?

The Sub Registrar Office for New Vetri Nagar is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.

How is the stamp duty calculated for properties in New Vetri Nagar?

The stamp duty for properties in New Vetri Nagar is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 2,01,000 would incur a stamp duty of Rs 14,070 at 7%.