Guideline Value for VETRI NAGAR

Vetri Nagar guideline value

The current guideline value of Vetri Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This locality is situated in Chitthalapakkam village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Vetri Nagar has changed

Over the years, the guideline value of Vetri Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,675 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, placing Vetri Nagar's 2024 figure below that median.

• Vetri Kargil Nagar: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar: Rs 3,300 per sq.ft (2024)
• Venus Colony: 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 Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 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 during the registration process of property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the classification of land in Vetri Nagar?

The land classification for Vetri Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

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

Other streets in Chitthalapakkam include Vetri Kargil Nagar, Vetrivel Nagar, Venus Colony, Victorya Avenue, Venba Nagar, and Venba Avenue, with guideline values ranging from Rs 2,700 to Rs 3,300 per sq.ft in 2024.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.