Guideline Value for Vetri Nagar 3rd Main Road

Vetri Nagar 3rd Main Road guideline value

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

How the guideline value of Vetri Nagar 3rd Main Road has changed

The guideline value for Vetri Nagar 3rd Main Road has undergone several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,301 per sq.ft. Notably, the register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2023 to 2024 was 10%. The overall change from 2007 to 2024 reflects a substantial increase of 372%. The fluctuations in the values highlight the dynamic nature of property valuation in this area.

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 guideline value for these streets is Rs 3,301 per sq.ft, which is equal to the current value for Vetri Nagar 3rd Main Road.

• Vetri Nagar 2nd Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar 4th Main Road: Rs 3,301 per sq.ft (2024)
• Vetri Nagar 1st 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 3rd 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, bringing the total cost to Rs 2,97,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vetri Nagar 3rd Main Road?

The Sub Registrar Office that covers Vetri Nagar 3rd 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 is a crucial reference point when buying or selling property in Peravallur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vetri Nagar 3rd Main Road?

The current guideline value of Vetri Nagar 3rd 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 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 land classification for Vetri Nagar 3rd Main Road?

The land classification for Vetri Nagar 3rd Main Road is Residential Special Type - II.

Where can I find the Sub Registrar Office for Vetri Nagar 3rd Main Road?

The Sub Registrar Office for Vetri Nagar 3rd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Vetri Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,01,000, the stamp duty at 7% would be Rs 2,31,070.