Guideline Value for Vetri Nagar

Vetri Nagar guideline value

The current guideline value of Vetri Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This locality is situated in Puthagaram village under the Ambattur 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 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 sees the guideline value rise to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 7%. The changes between the revisions highlight a 49% increase from 2017 to 2023, while the 2012 to 2017 period saw a decrease of 33%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value in the village is Rs 1,900 per sq.ft, placing Vetri Nagar's 2024 figure below this median.

• Vijaya Lakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Vijayalakshmi Nagar Extention (Balaraman Ave.): Rs 1,600 per sq.ft (2024)
• Villivakkam Road: Rs 2,200 per sq.ft (2024)
• Vinayagam Nagar: Rs 1,600 per sq.ft (2024)
• Velmurugan Nagar extention: Rs 2,201 per sq.ft (2024)
• Velmurugan Nagar: Rs 2,201 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 details.

Which Sub Registrar Office covers Vetri Nagar?

The Sub Registrar Office that covers Vetri Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Puthagaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may differ from the sale price, and the duty is charged based on the higher amount.

When registering a property, it is essential to ensure that the transaction adheres to the current guideline value to avoid any discrepancies. This value is updated periodically, reflecting changes in the real estate market, and is crucial for both buyers and sellers to understand.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

Where does Vetri Nagar's guideline value stand compared to other streets in Puthagaram?

Vetri Nagar's guideline value of Rs 1,600 per sq.ft is below the median value of Rs 1,900 per sq.ft for the 140 streets in Puthagaram.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registrations for Vetri Nagar?

The Ambattur Sub Registrar Office handles property registrations for Vetri Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.