Guideline Value for Vetri Garden Annex

Vetri Garden Annex guideline value

The current guideline value of Vetri Garden Annex is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Madavilagam village and falls under the Poonamallee SRO, classified as Residential Class I Type - I.

How the guideline value of Vetri Garden Annex has changed

The guideline value for Vetri Garden Annex has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft as per the 2024 revision.

Notably, the change from 2023 to 2024 reflects a 10% increase. Between 2017 and 2023, there was a substantial increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the current value for Vetri Garden Annex.

• Veeterirundha perumal: Rs 660 per sq.ft (2024)
• Thirumazhisai Garden: Rs 2,200 per sq.ft (2024)
• Thenndaimada veethi 169/1,2: Rs 1,100 per sq.ft (2024)
• Shanmugapuram sandhu 169/1,2: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 3street 155/3: Rs 1,100 per sq.ft (2024)
• Shanmugapuram 2street 155/3: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Garden Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetri Garden Annex?

The Sub Registrar Office that covers Vetri Garden Annex is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Madavilagam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration regulations and to avoid any potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of Vetri Garden Annex?

The current guideline value of Vetri Garden Annex is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification for Vetri Garden Annex?

Vetri Garden Annex is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Vetri Garden Annex?

The Sub Registrar Office for Vetri Garden Annex is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Vetri Garden Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, along with a registration fee of Rs 22,000.