Guideline Value for VETRI KARGIL NAGAR

Vetri Kargil Nagar guideline value

The current guideline value of Vetri Kargil Nagar is Rs 3,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is located in Chitthalapakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Vetri Kargil Nagar has changed

The guideline value for Vetri Kargil Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision has set it at Rs 3,300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft, with a median value of Rs 2,900 per sq.ft. Vetri Kargil Nagar's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Vetri Nagar: Rs 2,700 per sq.ft (2024)
• Venus Colony: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar: Rs 3,300 per sq.ft (2024)
• Victorya Avenue: Rs 2,700 per sq.ft (2024)
• Venba Nagar: Rs 2,900 per sq.ft (2024)
• Venba Avenue: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Kargil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Vetri Kargil Nagar?

The Sub Registrar Office that covers Vetri Kargil Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives its due revenue from property transactions, reflecting the property's value in the market.

Frequently asked questions

What is the current guideline value of Vetri Kargil Nagar?

The current guideline value of Vetri Kargil Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Vetri Kargil Nagar?

The land classification for Vetri Kargil Nagar is Residential Special Type - III.

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

Other streets in Chitthalapakkam include Vetri Nagar at Rs 2,700 per sq.ft, Venus Colony at Rs 3,300 per sq.ft, and Vetrivel Nagar at Rs 3,300 per sq.ft, among others.

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

The Sub Registrar Office for Vetri Kargil Nagar is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.