Guideline Value for Vetri Nagar

Vetri Nagar guideline value

The current guideline value of Vetri Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Siru Mathoor village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has undergone several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 250 per sq.ft in 2012. However, it dropped to Rs 167 per sq.ft in 2017. The subsequent revision in 2023 maintained the value at Rs 250 per sq.ft, and this figure remains unchanged in the 2024 revision.

Notably, the changes between the revisions reflect a 317% increase from 2007 to 2024, with a 50% rise from 2017 to 2023. The guideline value remained stable from 2023 to 2024, showing no percentage change.

Guideline values in Siru Mathoor

Siru Mathoor village has a range of guideline values across its 24 streets under the Sriperumpudur SRO, with figures varying from Rs 150 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 600 per sq.ft, placing Vetri Nagar's 2024 figure below this median.

• Sri Mahalaxmi Nagar: Rs 350 per sq.ft (2024)
• Santhi Nagar: Rs 400 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Raja Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Perumal Koil street: Rs 600 per sq.ft (2024)
• Padmavathy Nagar: Rs 150 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is charged at 7%, totaling Rs 17,500, while the registration fee is 2%, amounting to Rs 5,000. Together, these fees amount to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, 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 Siru Mathoor

The guideline value is a crucial factor when registering property transactions in Siru Mathoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that both parties are aware of the financial implications. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 250 per sq.ft in 2012, then dropped to Rs 167 per sq.ft in 2017. It remained at Rs 250 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Siru Mathoor?

The median guideline value for streets in Siru Mathoor is Rs 600 per sq.ft, with Vetri Nagar's 2024 figure being below this median.

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

For a property valued at Rs 2,50,000 in Vetri Nagar, the stamp duty is Rs 17,500 and the registration fee is Rs 5,000, totaling Rs 22,500.

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.