Guideline Value for VETRI NAGAR

Vetri Nagar guideline value

The current guideline value for Vetri Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Special Type - III.

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft, and in the latest 2024 revision, it increased to Rs 3,850 per sq.ft, marking a change of +10% from the previous year.

This upward revision reflects the current value of Rs 3,850 per sq.ft as of July 2024, which is higher than the 2023 figure of Rs 3,500 per sq.ft.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, making the guideline value for Vetri Nagar above that median.

• Venugopal Pillai Street: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 1,980 per sq.ft (2024)
• Veerama Munivar Street: Rs 1,980 per sq.ft (2024)
• Vaijayanthi Mala Bali Street: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Thirumalai Nagar: 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vetri Nagar?

The Sub Registrar Office that covers Vetri Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Thiruvancheri

The guideline value is a crucial factor in the property registration process. It serves as a reference for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property in Thiruvancheri, the guideline value helps both parties agree on a fair price for the transaction, as it reflects the current market conditions and property classifications in the area.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vetri Nagar has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, representing a 10% increase. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Vetri Nagar?

Vetri Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes within the local planning framework.

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

The Sub Registrar Office for Vetri Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. This office is part of the Chengalpattu registration zone.

How is stamp duty calculated for properties in Vetri Nagar?

Stamp duty for properties in Vetri Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% based on the same criteria.