Guideline Value for Vetri Nagar-I

Vetri Nagar-I guideline value

The current guideline value of Vetri Nagar-I is Rs 800 per sq.ft. This area is located in Vengadamangalam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Vetri Nagar-I has changed

The guideline value for Vetri Nagar-I has undergone several revisions over the years. In 2007, the guideline value was set at Rs 160 per sq.ft. This figure saw a significant increase to Rs 800 per sq.ft in 2012, marking a 400% rise. However, the 2017 revision saw a decrease to Rs 536 per sq.ft, which was a drop of 33%. The most recent revision in 2023 has brought the guideline value back up to Rs 800 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, there has been a 400% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Vengadamangalam

Currently, there are no specific village figures provided for Vengadamangalam. Vetri Nagar-I is one of the streets under the Gooduvancheri SRO. Unfortunately, there are no other streets in Vengadamangalam listed with guideline values.

Stamp duty and registration fee for property in Vetri Nagar-I

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, making the total fees Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vetri Nagar-I?

The Sub Registrar Office that covers Vetri Nagar-I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Vengadamangalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps in determining the official value of the property for registration purposes. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vetri Nagar-I?

The current guideline value of Vetri Nagar-I is Rs 800 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and finally returned to Rs 800 per sq.ft in 2023.

What is the land classification for Vetri Nagar-I?

The land classification for Vetri Nagar-I is Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Vetri Nagar-I?

For a property valued at Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.