Guideline Value for VETRIVEL NAGAR

Vetrivel Nagar guideline value

The current guideline value of Vetrivel Nagar is Rs 200 per sq.ft, effective from the 2024 revision. This area is located in Uoonamali village and falls under the Madurandakam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Vetrivel Nagar has changed

Over the years, the guideline value of Vetrivel Nagar has seen several revisions. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. In 2017, this figure decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision maintains this rate, reflecting no change from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Vetrivel Nagar. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Uoonamali

In Uoonamali, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 701 per sq.ft. The median value among these streets is Rs 200 per sq.ft, which is equal to the guideline value of Vetrivel Nagar.

• Thenral Nagar: Rs 200 per sq.ft (2024)
• Sundar Avenue: Rs 200 per sq.ft (2024)
• Sri Venkateshwara Nagar Phase-I: Rs 600 per sq.ft (2024)
• Srinivasa Avenue: Rs 200 per sq.ft (2024)
• Saravana Nagar: Rs 701 per sq.ft (2024)
• Ram Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vetrivel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is essential 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Vetrivel Nagar?

Vetrivel Nagar is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Uoonamali. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer purchases property, the registration office uses this value to calculate the applicable stamp duty and registration fees.

It is important for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of property transactions. The guideline value helps ensure transparency and fairness in property dealings by providing a standardized reference point.

Frequently asked questions

What is the current guideline value of Vetrivel Nagar?

The current guideline value of Vetrivel Nagar is Rs 200 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen fluctuations, with the most recent revision in 2024 maintaining the rate at Rs 200 per sq.ft. The value decreased to Rs 134 per sq.ft in 2017 but increased back to Rs 200 per sq.ft by 2023.

What are the other streets in Uoonamali with their guideline values?

Other streets in Uoonamali include Thenral Nagar, Sundar Avenue, Sri Venkateshwara Nagar Phase-I, Srinivasa Avenue, Saravana Nagar, and Ram Nagar, with guideline values ranging from Rs 200 to Rs 701 per sq.ft.

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

The stamp duty for property in Vetrivel Nagar is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot valued at Rs 2,00,000, the total fees would be Rs 18,000.

Which office should I approach for property registration in Vetrivel Nagar?

The Madurandakam Sub Registrar Office is responsible for property registration in Vetrivel Nagar. It is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.