Guideline Value for VETRI NAGAR

Vetri Nagar guideline value

The current guideline value of Vetri Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village, under the Manavalanagar SRO. The land classification for this region is Residential Class I Type - I.

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has seen several revisions over the years. In 2012, the value was set at Rs 300 per sq.ft, which remained unchanged in the subsequent revision in 2017, where it was Rs 201 per sq.ft. In 2023, the guideline value returned to Rs 300 per sq.ft, and this figure has been maintained in the 2024 revision, with no percentage change from 2023 to 2024.

Looking at the changes, from 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the guideline value decreased by 33%. Overall, from 2012 to 2024, the value has remained the same at Rs 300 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Vetri Nagar is above this median.

• Vidhya Nagar: Rs 250 per sq.ft (2024)
• Vigneswara Nagar: Rs 226 per sq.ft (2024)
• Vasathi Nagar: Rs 200 per sq.ft (2024)
• Winwilla Nagar: Rs 250 per sq.ft (2024)
• Vaishnavi Nagar: Rs 250 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value plays a crucial role during the registration of properties in Kizhnallathur & Melnallathur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to assess the financial obligations associated with the property transaction. This process helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

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

How has the guideline value changed over the years?

The guideline value has seen revisions in 2012, 2017, 2023, and 2024, with the value remaining at Rs 300 per sq.ft in the latest revisions, while it was Rs 201 per sq.ft in 2017.

What are the other streets in Kizhnallathur & Melnallathur?

Other streets in Kizhnallathur & Melnallathur include Vidhya Nagar, Vigneswara Nagar, Vasathi Nagar, Winwilla Nagar, Vaishnavi Nagar, and Thirumalai Nagar, with varying guideline values.

What is the stamp duty rate for properties in Vetri Nagar?

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

Where is the Sub Registrar Office for Vetri Nagar located?

The Sub Registrar Office for Vetri Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.