Guideline Value for VETRI NAGAR

Vetri Nagar guideline value

The current guideline value of Vetri Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vellivoyal village under the Thiruvottiyur SRO, classified as Residential Class I 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 2017 revision set the value at Rs 268 per sq.ft. In 2023, this increased to Rs 400 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 440 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Vellivoyal

In Vellivoyal village, there are 23 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 715 per sq.ft. The median value for these streets is Rs 440 per sq.ft, which matches the guideline value of Vetri Nagar.

• Thiruvadi Amman Nagar: Rs 440 per sq.ft (2024)
• Thirumurthi Nagar: Rs 715 per sq.ft (2024)
• Thekkan Colony: Rs 440 per sq.ft (2024)
• Subathra Nagar: Rs 330 per sq.ft (2024)
• Sri Sankara Vetrivel Garden: Rs 440 per sq.ft (2024)
• Sri Ram Nagar/Ext: Rs 440 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total fees Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetri Nagar?

The Sub Registrar Office that covers Vetri Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vellivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 268 per sq.ft to Rs 440 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification of Vetri Nagar?

Vetri Nagar is classified as Residential Class I Type - III under the Thiruvottiyur SRO.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for property in Vetri Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800 at 7%.