Guideline Value for Vetri Nagar 1st St

Vetri Nagar 1st St guideline value

The current guideline value of Vetri Nagar 1st St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vetri Nagar 1st St has changed

The guideline value for Vetri Nagar 1st St has seen several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which significantly increased to Rs 3,000 per sq.ft in 2012, marking a rise of 650%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and most recently, it increased by 10% to the current Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 725%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current figure for Vetri Nagar 1st St.

• Vetri Nagar 2nd St: Rs 3,300 per sq.ft (2024)
• Vetri Nagar 3rd St: Rs 3,300 per sq.ft (2024)
• Vetri Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Vetri Nagar: Rs 3,300 per sq.ft (2024)
• Venu Street: Rs 3,300 per sq.ft (2024)
• Vgn Mayfield Park Extension: Rs 8,250 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Nagar 1st St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vetri Nagar 1st St?

The Sub Registrar Office that covers Vetri Nagar 1st St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is an important factor when registering property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vetri Nagar 1st St?

The current guideline value of Vetri Nagar 1st St is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 725% over the years.

What are the other streets with the same guideline value in Tambaram?

Other streets in Tambaram with the same guideline value of Rs 3,300 per sq.ft include Vetri Nagar 2nd St, Vetri Nagar 3rd St, Vetri Nagar 4th Street, Vetri Nagar, and Venu Street.

What is the registration fee for properties in Vetri Nagar 1st St?

The registration fee for properties in Vetri Nagar 1st St is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for Vetri Nagar 1st St?

The Sub Registrar Office for Vetri Nagar 1st St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.