Guideline Value for VETRIVELAN NAGAR

Vetrivelan Nagar guideline value

The current guideline value of Vetrivelan Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Chekkancheri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vetrivelan Nagar has changed

The guideline value for Vetrivelan Nagar has undergone several revisions over the years. The oldest recorded revision is from 2017, where the guideline value was Rs 134 per sq.ft. This figure increased to Rs 200 per sq.ft in the 2023 revision, marking a 49% increase. The same value of Rs 200 per sq.ft was maintained in the 2024 revision, indicating no change from the previous year.

There are no figures available for the revisions from 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Chekkancheri

In Chekkancheri, there are five streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 300 per sq.ft, with a median value of Rs 200 per sq.ft. Vetrivelan Nagar's 2024 guideline value aligns with this median.

• Supreme City: Rs 200 per sq.ft (2024)
• Sri Sankara Balasubramaniyam City: Rs 200 per sq.ft (2024)
• Sri Kubera Lakshmi Nagar: Rs 300 per sq.ft (2024)
• Tms Nagar: Rs 200 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total charges Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Vetrivelan Nagar?

The Sub Registrar Office that covers Vetrivelan Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chekkancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official value of the property as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Vetrivelan Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2023 to 2024 and increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, marking an overall increase of 49% from 2017 to 2024.

Which office handles registrations for Vetrivelan Nagar?

The Ponneri Sub Registrar Office handles registrations for Vetrivelan Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

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

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%, and the registration fee would be Rs 4,000 at 2%, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find more information about the guideline values in Chekkancheri?

More information about the guideline values in Chekkancheri can be found in the Registration Department's guideline value register (TNReginet) and through the local Sub Registrar Office.