Guideline Value for VETRIPURI NAGAR EXTENSION

Vetripuri Nagar Extension guideline value

The current guideline value of Vetripuri Nagar Extension is Rs 101 per sq.ft, effective from 1 July 2024. This area is located in Thandarai village, under the Madurandakam Sub Registrar Office (SRO). The land classification for this region is Mixed Type - I.

How the guideline value of Vetripuri Nagar Extension has changed

The guideline value for Vetripuri Nagar Extension has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 100 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 100 per sq.ft. The latest revision in 2024 has increased the guideline value to Rs 101 per sq.ft, marking a 1% rise from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 1%.

Guideline values in Thandarai

In Thandarai, three streets under the Madurandakam SRO have a 2024 guideline value, which ranges from Rs 100 to Rs 101 per sq.ft. The median value for these streets is Rs 101 per sq.ft, which is equal to the 2024 figure for Vetripuri Nagar Extension.

• Vetripuri Nagar: Rs 101 per sq.ft (2024)
• "P.R.S. Nagar": Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Vetripuri Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total fees to Rs 9,090. 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 detailed calculations.

Which Sub Registrar Office covers Vetripuri Nagar Extension?

The Madurandakam Sub Registrar Office covers Vetripuri Nagar Extension. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Thandarai, the guideline value plays a crucial role in determining the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly affects the overall costs associated with property transactions. Understanding this value can help in better planning for the financial aspects of buying or selling real estate in the area.

Frequently asked questions

What is the current guideline value of Vetripuri Nagar Extension?

The current guideline value of Vetripuri Nagar Extension is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification for Vetripuri Nagar Extension?

The land classification for Vetripuri Nagar Extension is Mixed Type - I.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated in Thandarai?

Stamp duty in Thandarai is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft would incur a total of Rs 9,090 in fees.