Guideline Value for VETRIPURI NAGAR

Vetripuri Nagar guideline value

The current guideline value of Vetripuri Nagar is Rs 101 per sq.ft, effective from 1 July 2024. This locality is situated in Thandarai village, under the Madurandakam SRO, and is classified as Mixed Type - I land.

How the guideline value of Vetripuri Nagar has changed

Over the years, the guideline value of Vetripuri Nagar has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 101 per sq.ft, which is an increase from Rs 100 per sq.ft in 2023, marking a change of +1%. Prior to that, in 2017, the value was Rs 67 per sq.ft, indicating a significant increase of +49% from 2017 to 2023. The 2012 revision had the value at Rs 100 per sq.ft, which was a decrease of -33% from the 2017 figure.

From 2012 to 2024, the overall change in the guideline value is +1%. It is worth noting that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thandarai

In Thandarai village, three streets under the Madurandakam SRO have a 2024 guideline value, ranging from Rs 100 to Rs 101 per sq.ft. Vetripuri Nagar's 2024 figure of Rs 101 per sq.ft is equal to the median value for these streets.

• Vetripuri Nagar Extension: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value is Rs 1,01,000. The stamp duty charged at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, making the total cost for these fees Rs 9,090. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetripuri Nagar?

The Sub Registrar Office that covers Vetripuri Nagar is the Madurandakam Sub Registrar Office, 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

The guideline value is a critical factor when buying or selling property in Thandarai. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction price, ensuring that the registration process reflects the legal requirements set by the Registration Department. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vetripuri Nagar?

The current guideline value of Vetripuri Nagar 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 2023 to Rs 101 per sq.ft in 2024, and from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2012.

What are the guideline values of other streets in Thandarai?

Other streets in Thandarai include Vetripuri Nagar Extension, which has a guideline value of Rs 101 per sq.ft, and "p.R.S. Nagar," with a value of Rs 100 per sq.ft for 2024.

What is the stamp duty rate for property in Vetripuri Nagar?

The stamp duty rate for property in Vetripuri Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vetripuri Nagar?

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