Guideline Value for Vetri Nagar

Vetri Nagar guideline value

The current guideline value of Vetri Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Salamangalam village under the Sriperumpudur Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 50 per sq.ft. This figure increased significantly to Rs 400 per sq.ft in 2012, marking a 700% increase. However, from 2012 to 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The value then rose again to Rs 400 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, maintaining a consistent rate of Rs 400 per sq.ft in both 2023 and 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Salamangalam

In Salamangalam village, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft. The median value for these streets is Rs 500 per sq.ft, indicating that the guideline value of Vetri Nagar is below the median.

• Venkatesa Nagar: Rs 550 per sq.ft (2024)
• Tvs Emerald Flourish Phase-III: Rs 3,100 per sq.ft (2024)
• TVS Emerald Flourish: Rs 1,850 per sq.ft (2024)
• Thirupathi Nagar: Rs 300 per sq.ft (2024)
• Theradi street: Rs 400 per sq.ft (2024)
• Tambaram Kanchipuram Road: Rs 700 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 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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?

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 information.

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

The guideline value is a crucial element in the property registration process in Salamangalam. It serves as the minimum value for property transactions, ensuring that the transaction is registered at a value that reflects the government’s assessment of the property’s worth.

When buying or selling property, the guideline value helps determine the applicable stamp duty and registration fees. Buyers must pay these fees based on the guideline value or the sale price, whichever is higher, ensuring transparency and compliance with state regulations.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Salamangalam with their guideline values?

Other streets in Salamangalam have varying guideline values, ranging from Rs 200 to Rs 3,100 per sq.ft, with Vetri Nagar's value being below the median of Rs 500 per sq.ft.

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

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 36,000, which includes stamp duty and registration fees.

Where is the Sub Registrar Office for Vetri Nagar located?

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