Guideline Value for VETRI NAGAR

Vetri Nagar guideline value

The current guideline value of Vetri Nagar, located in Kattankollatur village under the Chengleput Joint II SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 603 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 900 per sq.ft in the 2023 revision, followed by a further increase to Rs 990 per sq.ft in the 2024 revision, representing a 10% rise.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value for the area is Rs 1,100 per sq.ft, positioning Vetri Nagar's 2024 figure below this median.

• Vethanayagam Street(Ward -8): Rs 1,760 per sq.ft (2024)
• Vgn Homes Pvt Ltd: Rs 1,980 per sq.ft (2024)
• V.G.N. Southeran Meadows Phase - III: Rs 2,463 per sq.ft (2024)
• Vgn Southern Colony (Kr): Rs 1,980 per sq.ft (2024)
• Venkateswaran Nagar (Per): Rs 660 per sq.ft (2024)
• Vgn Southern County Phase - I: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees together to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vetri Nagar?

The Sub Registrar Office that covers Vetri Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kattankollatur

The guideline value is a critical factor in the registration process for property transactions in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the correct amounts are paid based on the property's assessed value.

When buying or selling property in this area, it is essential to refer to the latest guideline value to understand the financial implications of the transaction. This value is used to calculate the taxes and fees associated with the property transfer, making it a vital consideration for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of Vetri Nagar?

Vetri Nagar is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Vetri Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, these fees total Rs 89,100.

Which office handles property registrations in Vetri Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations in Vetri Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.