Guideline Value for Vetri Nagar 2nd Main Road

Vetri Nagar 2nd Main Road guideline value

The current guideline value of Vetri Nagar 2nd Main Road is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Vetri Nagar 2nd Main Road has changed

Over the years, the guideline value for Vetri Nagar 2nd Main Road has seen several revisions. The 2007 revision recorded a value of Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a remarkable increase of 329%. However, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revision in 2023 set the value at Rs 3,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 3,301 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 shows an increase of 372% in the guideline value, highlighting the fluctuations in property values over the years.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value of Vetri Nagar 2nd Main Road.

• Vetri Nagar 1st Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar 3rd Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar 4th Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar East Main Road: Rs 3,301 per sq.ft (2024)
• Venugopal Street (Vetri Nagar): Rs 4,200 per sq.ft (2024)
• Venugopal Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value amounts to Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, making the total cost for stamp duty and registration fees Rs 2,97,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetri Nagar 2nd Main Road?

The Sub Registrar Office that covers Vetri Nagar 2nd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Peravallur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. It serves as a benchmark for valuing properties in the area.

Additionally, the guideline value is essential for ensuring transparency in property transactions, as it helps in standardizing property prices across different areas. Buyers and sellers should be aware of the current guideline value to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Vetri Nagar 2nd Main Road?

The current guideline value of Vetri Nagar 2nd Main Road is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of 372% over the years.

What is the median guideline value in Peravallur?

The median guideline value in Peravallur is Rs 3,301 per sq.ft, which is the same as the current guideline value for Vetri Nagar 2nd Main Road.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070 and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Which office should I contact for registration in Vetri Nagar?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, is the office responsible for registration in Vetri Nagar.