Guideline Value for VETRIVEL NAGAR PHASE-II

Vetrivel Nagar Phase-II guideline value

The current guideline value of Vetrivel Nagar Phase-II is Rs 2,960 per sq.ft. This area is located in Varadarajapuram village and falls under the Padappai SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Vetrivel Nagar Phase-II has changed

The guideline value for Vetrivel Nagar Phase-II has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,960 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,687 per sq.ft. Prior to that, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002 in the register for this street.

In summary, the guideline value increased from Rs 2,687 per sq.ft in 2023 to Rs 2,960 per sq.ft in 2024. The earlier revisions do not have recorded figures for Vetrivel Nagar Phase-II, indicating that the value has seen significant changes only in the most recent years.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, and Vetrivel Nagar Phase-II's 2024 figure is above this median.

• Vetrivel Nagar Phase-I: Rs 2,960 per sq.ft (2024)
• Venkateshwara Nagar Extn: Rs 1,650 per sq.ft (2024)
• Vigneswara Nagar: Rs 1,650 per sq.ft (2024)
• Vijai Nagar: Rs 1,100 per sq.ft (2024)
• Vijaya Nagar: Rs 1,320 per sq.ft (2024)
• Vijay Nagar Extn: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vetrivel Nagar Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,960 per sq.ft, the total guideline value amounts to Rs 29,60,000. The stamp duty at 7% would be Rs 2,07,200, and the registration fee at 2% would be Rs 59,200, making the total cost for these fees Rs 2,66,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vetrivel Nagar Phase-II?

The Sub Registrar Office that covers Vetrivel Nagar Phase-II 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This process helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Vetrivel Nagar Phase-II?

The current guideline value of Vetrivel Nagar Phase-II is Rs 2,960 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased by 10% from Rs 2,687 per sq.ft in 2023 to Rs 2,960 per sq.ft in 2024.

What is the land classification for Vetrivel Nagar Phase-II?

The land classification for Vetrivel Nagar Phase-II is Commercial Class I Type - II.

Where can I find the registration office for Vetrivel Nagar Phase-II?

The registration office for Vetrivel Nagar Phase-II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Vetrivel Nagar Phase-II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at Rs 2,960 per sq.ft, the total guideline value would be Rs 29,60,000.