Guideline Value for VETRIMARAN NAGAR

Vetrimaran Nagar guideline value

The current guideline value of Vetrimaran Nagar is Rs 670 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village under the Padappai SRO, classified as Residential Class I Type - II.

How the guideline value of Vetrimaran Nagar has changed

In the 2017 revision, the guideline value for Vetrimaran Nagar was Rs 603 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 670 per sq.ft, marking an 11% rise from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 11%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Nandambakkam

Nandambakkam has a total of 94 streets under the Padappai SRO carrying a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. Vetrimaran Nagar's current guideline value is below this median.

• Venkateswara Nagar Annexe: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 880 per sq.ft (2024)
• Vigneswara Nagar: Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 990 per sq.ft (2024)
• Venkatasubramaniya Nagar: Rs 770 per sq.ft (2024)
• Vinayaga Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Vetrimaran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 670 per sq.ft, the total guideline value would be Rs 6,70,000. The stamp duty at 7% would be Rs 46,900, and the registration fee at 2% would be Rs 13,400, totaling Rs 60,300. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vetrimaran Nagar?

The Sub Registrar Office that covers Vetrimaran Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property in Nandambakkam, it is essential to be aware of the current guideline value, as it directly impacts the costs involved in the registration process. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Vetrimaran Nagar?

The current guideline value of Vetrimaran Nagar is Rs 670 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From 2017 to 2023, the guideline value remained at Rs 603 per sq.ft, but it increased to Rs 670 per sq.ft in the 2024 revision, marking an 11% rise from the previous year.

What is the land classification of Vetrimaran Nagar?

Vetrimaran Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property in Vetrimaran Nagar?

For a property valued at Rs 6,70,000, the stamp duty would be Rs 46,900 and the registration fee would be Rs 13,400, totaling Rs 60,300.

Which office handles registrations for Vetrimaran Nagar?

The Padappai Sub Registrar Office handles registrations for Vetrimaran Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.