Guideline Value for Vetri Nagar

Vetri Nagar guideline value

The current guideline value for Vetri Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024. This area is located in Vadaperumbakkam village, under the jurisdiction of the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Vetri Nagar has changed

The guideline value for Vetri Nagar has seen significant changes over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it decreased to Rs 335 per sq.ft in 2017, before rising again to Rs 500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,006 per sq.ft, marking an increase of 101% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 403%. The revisions for the years 2002 and 2003 do not have figures listed for this street.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, making the 2024 figure for Vetri Nagar above that median.

• Vetrivel Nagar: Rs 1,006 per sq.ft (2024)
• Vedachalam Nagar: Rs 1,000 per sq.ft (2024)
• Zahida Industrial Garden: Rs 1,003 per sq.ft (2024)
• Thanikachalam Nagar: Rs 1,000 per sq.ft (2024)
• T.G. Swamy Nagar: Rs 1,004 per sq.ft (2024)
• Suyambulingam Nagar Annex - 3: Rs 1,006 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 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, making the total fees together Rs 90,540. Please note that the duty is charged on the higher of the guideline value and 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 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 Vadaperumbakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Vadaperumbakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair price.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value for Vetri Nagar?

The current guideline value for Vetri Nagar is Rs 1,006 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 200 per sq.ft in 2007 to Rs 1,006 per sq.ft in 2024, which is an overall increase of 403%.

What is the land classification for Vetri Nagar?

Vetri Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Vetri Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vetri Nagar located?

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