Guideline Value for VETTRI NAGAR

Vettri Nagar guideline value

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

How the guideline value of Vettri Nagar has changed

The guideline value for Vettri Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,200 per sq.ft, which increased to Rs 1,792 per sq.ft in 2023. The most recent revision in 2024 has raised this figure to Rs 1,980 per sq.ft, marking a 10% increase from the previous year.

Looking at the changes over the years, the guideline value rose by 49% from 2017 to 2023, and overall, there has been a significant increase of 65% from 2017 to 2024. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Moolacheri

In Moolacheri, there are 17 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,710 per sq.ft, placing Vettri Nagar's 2024 figure below this median.

• Vgn Brillianze: Rs 4,400 per sq.ft (2024)
• VGN BRILLIANZE P-ii: Rs 3,520 per sq.ft (2024)
• Vembuilamman Koil Street: Rs 1,100 per sq.ft (2024)
• Sri Selva Perumal Nagar: Rs 1,650 per sq.ft (2024)
• Serene Avenue: Rs 4,400 per sq.ft (2024)
• Sathyam Golden Nest: Rs 2,710 per sq.ft (2024)

Stamp duty and registration fee for property in Vettri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees 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.

You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vettri Nagar?

Vettri Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value serves as a benchmark for property transactions in Moolacheri. It determines the minimum price at which properties can be registered, ensuring transparency in the buying and selling process.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This helps in maintaining a standard valuation for properties in the area.

Frequently asked questions

What is the current guideline value of Vettri Nagar?

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

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, representing a total increase of 65% over this period.

What is the land classification of Vettri Nagar?

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

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

The Sub Registrar Office covering Vettri Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How are stamp duty and registration fees calculated in Moolacheri?

Stamp duty and registration fees in Moolacheri are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 1,78,200.