Guideline Value for VETRI NAGAR

Vetri Nagar guideline value

The current guideline value of Vetri Nagar, located in Thotakadu village under the Ponneri SRO, is Rs 150 per sq.ft. This value is effective from the 2024 revision, which took effect on 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vetri Nagar has changed

Over the years, the guideline value for Vetri Nagar has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, from 2017 to 2023, the value increased by 50% to Rs 150 per sq.ft, and it remained the same in the 2023 and 2024 revisions, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2024 revision, the overall change is 0%, indicating stability in the guideline value during this period. The 2017 revision marked a significant increase from the 2012 figure, which had decreased by 33% from the previous value of Rs 150 per sq.ft.

Guideline values in Thotakadu

In Thotakadu, there are 10 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 150 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value for Vetri Nagar is equal to this median.

• Sri Sakthi Sai Garden: Rs 150 per sq.ft (2024)
• Sri Parvathi Amman Nagar: Rs 150 per sq.ft (2024)
• Sri Amman Nagar Ext: Rs 150 per sq.ft (2024)
• Sri Amman Nagar: Rs 150 per sq.ft (2024)
• Sivasakthi Vinayagar Nagar: Rs 150 per sq.ft (2024)
• K.P.M.Nagar: Rs 150 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty charged at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vetri Nagar?

The Sub Registrar Office covering Vetri Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thotakadu. It determines the minimum price at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs for the buyer. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a significant increase of 50% from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023.

What is the land classification of Vetri Nagar?

The land classification for Vetri Nagar is Residential Class II Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 13,500.

Where is the Sub Registrar Office for Vetri Nagar located?

The Sub Registrar Office for Vetri Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, under the Ponneri registration zone.