Guideline Value for SRI VETRIVEL NAGAR

Sri Vetrivel Nagar guideline value

The current guideline value of Sri Vetrivel Nagar, located in Nayakkankuppam village, is Rs 200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification. The property is registered under the Walajabad SRO.

How the guideline value of Sri Vetrivel Nagar has changed

Looking at the historical revisions, the guideline value for Sri Vetrivel Nagar was Rs 200 per sq.ft in both the 2023 and 2024 revisions, showing no change between these years. In the 2017 revision, the value was Rs 134 per sq.ft, reflecting a significant increase of 49% to reach the 2023 figure. The 2012 revision also listed the value at Rs 200 per sq.ft, marking a decrease of 33% from the 2017 revision.

Overall, comparing the 2012 revision to the current 2024 figure, there has been no change, as both are Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nayakkankuppam

Nayakkankuppam has 23 streets under the Walajabad SRO, with the 2024 guideline values ranging from Rs 150 to Rs 403 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is equal to the guideline value of Sri Vetrivel Nagar.

• Sri Sakthi Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Township: Rs 150 per sq.ft (2024)
• Sri Ragavendira Nagar: Rs 250 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 403 per sq.ft (2024)
• Thiru Sai Garden: Rs 250 per sq.ft (2024)
• Sri Babuji Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vetrivel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vetrivel Nagar?

The Sub Registrar Office that covers Sri Vetrivel Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions. It is used to determine the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When buying or selling property in Nayakkankuppam, it is essential to be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Sri Vetrivel Nagar?

The current guideline value of Sri Vetrivel Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft in the 2023 and 2024 revisions, while it was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012. There was a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017.

What are the other streets in Nayakkankuppam and their guideline values?

Other streets in Nayakkankuppam include Sri Sakthi Nagar and Sri Babuji Nagar, both at Rs 200 per sq.ft, and Sri Ragavendira Nagar at Rs 250 per sq.ft, among others. The guideline values for these streets range from Rs 150 to Rs 403 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft would incur total fees of Rs 18,000.

Where can I find the Sub Registrar Office for Sri Vetrivel Nagar?

The Walajabad Sub Registrar Office covers Sri Vetrivel Nagar and is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information about your SRO online.