Guideline Value for Vetri Nagar 4th Street

Vetri Nagar 4th Street guideline value

The current guideline value of Vetri Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of Vetri Nagar 4th Street has changed

The guideline value for Vetri Nagar 4th Street has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 3,000 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The value then increased significantly to Rs 3,000 per sq.ft in 2023, and further rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO, with guideline values 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 value of Vetri Nagar 4th Street.

• Vetri Nagar 3rd St: Rs 3,300 per sq.ft (2024)
• Vetri Nagar 2nd St: Rs 3,300 per sq.ft (2024)
• Vetri Nagar 1st St: 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is essential 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 4th Street?

The Sub Registrar Office that covers Vetri Nagar 4th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, within 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 a critical factor in property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration laws.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Vetri Nagar 4th Street 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Vetri Nagar 4th Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Vetri Nagar 4th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Vetri Nagar 4th Street, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the guideline value determined for properties in Tambaram?

The guideline value is determined by the Registration Department and reflects the minimum value for property registration in a specific area. It is based on various factors, including land classification and market conditions.