Guideline Value for VETRI VELAN NAGAR

Vetri Velan Nagar guideline value

The current guideline value of Vetri Velan Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Perumattu Nellore village under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Vetri Velan Nagar has changed

The guideline value for Vetri Velan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained constant until the 2023 revision, also at Rs 500 per sq.ft. The 2017 revision marked a change to Rs 335 per sq.ft, reflecting a decrease of 33% from the previous 2012 figure. The most recent 2024 revision has maintained the value at Rs 500 per sq.ft, showing no change from the 2023 revision.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, comparing the 2012 to 2024 revisions, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, placing Vetri Velan Nagar's 2024 figure below this median.

• Vijayapuram: Rs 500 per sq.ft (2024)
• Vijay Avenue: Rs 500 per sq.ft (2024)
• Vimal Nagar: Rs 700 per sq.ft (2024)
• Varadharaji Nagar: Rs 800 per sq.ft (2024)
• Vanavil Avenue: Rs 501 per sq.ft (2024)
• Vaigai Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Velan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 precise calculations.

Which Sub Registrar Office covers Vetri Velan Nagar?

The Sub Registrar Office covering Vetri Velan Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that transactions are conducted fairly and transparently.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vetri Velan Nagar?

The current guideline value of Vetri Velan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, and then returning to Rs 500 per sq.ft in 2023 and 2024.

What other streets have guideline values in Perumattu Nellore?

Other streets in Perumattu Nellore include Vijayapuram and Vijay Avenue at Rs 500 per sq.ft, Vimal Nagar at Rs 700 per sq.ft, Varadharaji Nagar at Rs 800 per sq.ft, Vanavil Avenue at Rs 501 per sq.ft, and Vaigai Nagar at Rs 700 per sq.ft.

Where is the Sub Registrar Office for Vetri Velan Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vetri Velan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 5,00,000, the stamp duty at 7% would be Rs 35,000.