Guideline Value for VETRIVELAN NAGAR

Vetrivelan Nagar guideline value

The current guideline value of Vetrivelan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Konathi village under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Vetrivelan Nagar has changed

The guideline value for Vetrivelan Nagar has seen several revisions over the years. The most recent figure, effective from 1 July 2024, is Rs 1,980 per sq.ft, which reflects a 10% increase from the 2023 revision of Rs 1,800 per sq.ft. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Prior to the 2023 revision, there were no recorded values for Vetrivelan Nagar in the years mentioned. The guideline value has increased from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, indicating a significant change in the valuation for this area.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Vetrivelan Nagar's 2024 figure above the median.

• Venkateswara Nagar (Val): Rs 880 per sq.ft (2024)
• Vgp Mount Mary Town (Ward -1): Rs 1,100 per sq.ft (2024)
• Vembuliamman Koil Street (Ward -1): Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar Vallancheri (Ward -1): Rs 770 per sq.ft (2024)
• Vijayalakshmi Nagar (Ward-21): Rs 660 per sq.ft (2024)
• Velan Nagar (Ward -1): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Vetrivelan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that 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 Vetrivelan Nagar?

The Sub Registrar Office covering Vetrivelan Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konathi. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that transactions are conducted at a legally recognized value.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate applicable duties. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vetrivelan Nagar?

The current guideline value of Vetrivelan Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, reflecting a 10% increase. There are no recorded values for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Vetrivelan Nagar?

Vetrivelan Nagar is classified as Residential Special Type - II, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for properties in Vetrivelan Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Where is the Sub Registrar Office for Vetrivelan Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.