Guideline Value for Vetri Nagar

Vetri Nagar guideline value

The current guideline value of Vetri Nagar, located in Serapanancheri village under the Padappai SRO, is Rs 720 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has seen several revisions over the years. In 2012, the guideline value was set at Rs 650 per sq.ft. This figure decreased to Rs 435 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 650 per sq.ft. The most recent revision in 2024 raised the value to Rs 720 per sq.ft, marking an 11% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,440 per sq.ft. The median guideline value in this area is Rs 720 per sq.ft, which is equal to the current value for Vetri Nagar.

• Vetri Vinayagar Avenue: Rs 720 per sq.ft (2024)
• Vignesh Nagar: Rs 720 per sq.ft (2024)
• Venkatajalapathi Nagar: Rs 720 per sq.ft (2024)
• Vinneesa Nagar: Rs 720 per sq.ft (2024)
• Varalakshmi Nagar: Rs 990 per sq.ft (2024)
• Walajabad Main Road: Rs 990 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 720 per sq.ft, the total guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, making the total fees together Rs 64,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be considered for duty calculations.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then increased to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

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

For a property valued at Rs 7,20,000, the stamp duty would be Rs 50,400, and the registration fee would be Rs 14,400, totaling Rs 64,800.

Which Sub Registrar Office covers Vetri Nagar?

The Padappai Sub Registrar Office covers Vetri Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Vetri Nagar?

Vetri Nagar falls under the Residential Class I Type - I land classification.