Guideline Value for VETHAPURI STREET

Vethapuri Street guideline value

The current guideline value of Vethapuri Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Vethapuri Street has changed

The guideline value for Vethapuri Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as per the 2024 revision. The register has no figure for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, it saw a significant increase of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. Vethapuri Street's current guideline value is below this median.

• Vendrasi Amman Koil Streeet Extension: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Streeet: Rs 1,100 per sq.ft (2024)
• VENDRASI AMMAN KOIL 1st CROSS STREEET: Rs 1,100 per sq.ft (2024)
• Vembuli Street: Rs 1,100 per sq.ft (2024)
• Velu Street: Rs 1,100 per sq.ft (2024)
• Veerapandia Kattabomman Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vethapuri Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value is 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, totaling Rs 99,000. 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 details.

Which Sub Registrar Office covers Vethapuri Street?

The Sub Registrar Office that covers Vethapuri Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vethapuri Street?

The current guideline value of Vethapuri Street 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 from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification of Vethapuri Street?

Vethapuri Street falls under the Residential Class III Type - I land classification.

What is the stamp duty rate for properties in Vethapuri Street?

The stamp duty rate for properties in Vethapuri Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.