Guideline Value for Vethachalam Nagar

Vethachalam Nagar guideline value

The current guideline value of Vethachalam Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Vethachalam Nagar has changed

The guideline value for Vethachalam Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then revised to Rs 1,206 per sq.ft in 2017. Following this, the value increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 2,000 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 11%. The significant change from 2017 to 2023 was a 49% increase, while the change from 2012 to 2017 was a decrease of 33%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Vethachalam Nagar's guideline value of Rs 2,000 per sq.ft is above this median.

• Vgn Highness: Rs 7,400 per sq.ft (2024)
• Velayutham Nagar: Rs 2,000 per sq.ft (2024)
• Vasanthapuram Pase I: Rs 1,550 per sq.ft (2024)
• Vasantha puram Nagar: Rs 1,550 per sq.ft (2024)
• Vasantham Nagar Phase II: Rs 1,550 per sq.ft (2024)
• TheruVeethiyamman Koil Theru: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Vethachalam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vethachalam Nagar?

The Sub Registrar Office covering Vethachalam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Srinivasapuram. It determines the stamp duty and registration fees payable when a property is bought or sold.

When registering a property, buyers must consider the guideline value as it is used to calculate the applicable fees. The higher of the guideline value or the sale price will be the basis for these calculations, ensuring that the appropriate duties are collected.

Frequently asked questions

What is the current guideline value of Vethachalam Nagar?

The current guideline value of Vethachalam Nagar is Rs 2,000 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 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 2,000 per sq.ft in 2024.

What is the significance of the guideline value?

The guideline value is significant as it is used to calculate stamp duty and registration fees during property transactions. It ensures that the appropriate fees are collected based on the property’s value.

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

The Sub Registrar Office for Vethachalam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Other streets in Srinivasapuram include Vgn Highness with Rs 7,400 per sq.ft, Velayutham Nagar with Rs 2,000 per sq.ft, and several others ranging from Rs 1,550 to Rs 7,400 per sq.ft.