Guideline Value for Vetri Nagar

Vetri Nagar guideline value

The current guideline value of Vetri Nagar, located in Karunagaracheri village, is Rs 300 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as a New House Site Type -III (Approved Lay-Out).

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. In 2017, the value was Rs 201 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The 2023 revision maintained the value at Rs 300 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The current guideline value of Rs 300 per sq.ft, effective from July 2024, marks no change from the previous year. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 300 per sq.ft.

Guideline values in Karunagaracheri

In Karunagaracheri, there are 11 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 300 per sq.ft, with a median value of Rs 200 per sq.ft. Vetri Nagar's 2024 guideline value is above this median.

• Sree Karunambigai Nagar: Rs 200 per sq.ft (2024)
• Sasthapuri: Rs 200 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Narayanapuram: Rs 200 per sq.ft (2024)
• Manthillaiyamman Koil Street: Rs 100 per sq.ft (2024)
• Azhagar City: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total charges to Rs 27,000. It is important to 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?

The Sub Registrar Office that covers Vetri Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karunagaracheri. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration fees reflect the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2012, with a decrease to Rs 201 per sq.ft in 2017, and then returning to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Vetri Nagar?

Vetri Nagar is classified as a New House Site Type -III (Approved Lay-Out).

Where can I find the Sub Registrar Office for Vetri Nagar?

The Sub Registrar Office for Vetri Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for property in Vetri Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 at 7%.