Guideline Value for Sri Vetri Nagar Extention

Sri Vetri Nagar Extention guideline value

The current guideline value of Sri Vetri Nagar Extention is Rs 1,004 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Vetri Nagar Extention has changed

The guideline value for Sri Vetri Nagar Extention has undergone several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 300 per sq.ft. This increased to Rs 600 per sq.ft in 2012, but then decreased to Rs 402 per sq.ft in 2017. The value rose significantly to Rs 600 per sq.ft in 2023, and then saw a substantial increase to Rs 1,004 per sq.ft in 2024.

Notably, the change from 2023 to 2024 was +67%, while the increase from 2017 to 2023 was +49%. The value saw a decrease of -33% from 2012 to 2017, and a remarkable increase of +100% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by +235%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median value is Rs 1,003 per sq.ft, making the current value of Sri Vetri Nagar Extention above this median.

• Sri Vetri Nagar Extn.: Rs 1,004 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex IV: Rs 1,006 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex-II: Rs 1,006 per sq.ft (2024)
• Sri Srinivasa Modern Town: Rs 1,006 per sq.ft (2024)
• Sri Sabhari Nagar: Rs 1,004 per sq.ft (2024)
• Sumangali Nagar: Rs 1,006 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vetri Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 1,004 per sq.ft, the total guideline value would be Rs 10,04,000. The stamp duty at 7% would amount to Rs 70,280, and the registration fee at 2% would be Rs 20,080, making the total cost for these fees Rs 90,360. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Vetri Nagar Extention?

The Sub Registrar Office that covers Sri Vetri Nagar Extention 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 Vadaperumbakkam

The guideline value is a crucial factor when registering property transactions in Vadaperumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Sri Vetri Nagar Extention?

The current guideline value of Sri Vetri Nagar Extention is Rs 1,004 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,004 per sq.ft in 2024. There have been several revisions, with notable increases in 2023 and 2024.

What is the registration office for Sri Vetri Nagar Extention?

The registration office for Sri Vetri Nagar Extention is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the stamp duty rate for property in this area?

The stamp duty rate for property transactions in Sri Vetri Nagar Extention is 7% of the guideline value or sale price, whichever is higher.

What is the significance of the guideline value?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the government receives revenue based on the assessed value of the property.