Guideline Value for Vetri Nagar

Vetri Nagar guideline value

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

How the guideline value of Vetri Nagar has changed

In the 2017 revision, the guideline value for Vetri Nagar was Rs 2,010 per sq.ft. With the latest revision in 2024, this figure has increased to Rs 3,300 per sq.ft, marking a significant change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Comparing the revisions, the 2024 value represents a notable increase from the 2017 figure. The absence of guideline values in the previous revisions indicates a lack of recorded changes for Vetri Nagar prior to 2017.

Guideline values in Tambaram

Vetri Nagar's guideline value of Rs 3,300 per sq.ft aligns with the median guideline value for the 360 streets in Tambaram under the Tambaram Joint 1 SRO, which ranges from Rs 880 to Rs 8,250 per sq.ft. The median for these streets is also Rs 3,300 per sq.ft.

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

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, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetri Nagar?

The Sub Registrar Office that covers Vetri Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in 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 plays a crucial role in property transactions in Tambaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property, ensuring that these costs are calculated based on the officially recognized value of the property.

When you register a property, the guideline value helps in establishing a fair valuation for taxation purposes. This ensures transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, which is a change of +64%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Tambaram?

The median guideline value for the 360 streets in Tambaram under the Tambaram Joint 1 SRO is Rs 3,300 per sq.ft, which is the same as the current guideline value for Vetri Nagar.

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

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. This is calculated based on the guideline value or the sale price, whichever is higher.

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

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles registrations for properties in Vetri Nagar.