Guideline Value for Vetri Nagar

Vetri Nagar guideline value

The current guideline value of Vetri Nagar, located in Thandalkazhani village under the Redhills SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Vetri Nagar has changed

Over the years, the guideline value for Vetri Nagar has seen significant changes. In 2002, the guideline value was Rs 399 per sq.ft, which then increased to Rs 42 per sq.ft in 2003. From 2003 to 2007, there was a substantial increase of 1,567%, bringing the value to Rs 700 per sq.ft. In 2012, the value rose to Rs 2,500 per sq.ft, marking an increase of 257% from the previous figure. However, this value decreased by 33% to Rs 1,675 per sq.ft in 2017.

In 2023, the guideline value was revised to Rs 2,500 per sq.ft, and in 2024, it increased by 10% to the current value of Rs 2,750 per sq.ft. This reflects an overall increase of 589% from the 2002 figure to the current 2024 value.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median value among these streets is Rs 880 per sq.ft, placing Vetri Nagar's 2024 figure above this median.

• Veeran Alagumuthu Street: Rs 880 per sq.ft (2024)
• Veeran Alagumuthu 1st Street: Rs 880 per sq.ft (2024)
• Vadivudaiamman Nagar Main Street: Rs 880 per sq.ft (2024)
• Thanigai Nagar: Rs 660 per sq.ft (2024)
• Sri Vadivudai Amman Nagar: Rs 880 per sq.ft (2024)
• Sathya Nagar: Rs 880 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 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thandalkazhani. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of Vetri Nagar?

The current guideline value of Vetri Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 399 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 589% over the years.

What is the stamp duty rate for property in Vetri Nagar?

The stamp duty rate for property transactions in Vetri Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vetri Nagar located?

The Sub Registrar Office for Vetri Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Thandalkazhani?

The median guideline value in Thandalkazhani is Rs 880 per sq.ft, with Vetri Nagar's current value being above this median.