Guideline Value for Vetri Nagar 4th Main Road

Vetri Nagar 4th Main Road guideline value

The current guideline value of Vetri Nagar 4th Main Road is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, with a land classification of Residential Special Type - II.

How the guideline value of Vetri Nagar 4th Main Road has changed

The guideline value for Vetri Nagar 4th Main Road has undergone several revisions over the years. The earliest recorded revision in the register is from 2002, where the guideline value was Rs 325 per sq.ft. This value increased to Rs 354 per sq.ft in 2003, marking a change of +9%. In 2007, the guideline value saw a significant rise to Rs 700 per sq.ft, which was an increase of +98%. The value then increased dramatically to Rs 3,000 per sq.ft in 2012, reflecting a change of +329%. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a drop of -33%. The guideline value rose again to Rs 3,000 per sq.ft in 2023, and then to the current rate of Rs 3,301 per sq.ft in 2024, which is a +10% increase.

Overall, from 2002 to 2024, the guideline value has increased by +916%. There are no years in the register that do not have a figure for this street.

Guideline values in Peravallur

In Peravallur village, 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 4th Main Road.

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

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

Which Sub Registrar Office covers Vetri Nagar 4th Main Road?

The Sub Registrar Office that covers Vetri Nagar 4th Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is an essential factor when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value as per the government norms. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Vetri Nagar 4th Main Road?

The current guideline value of Vetri Nagar 4th 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 325 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, reflecting an overall increase of +916% over the years.

What is the land classification for Vetri Nagar 4th Main Road?

The land classification for Vetri Nagar 4th Main Road is Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees amount to Rs 2,97,090.