Guideline Value for Vetri Vinayagar Avenue

Vetri Vinayagar Avenue guideline value

The current guideline value of Vetri Vinayagar Avenue is Rs 720 per sq.ft, effective from 1 July 2024. This street is located in Serapanancheri village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Vetri Vinayagar Avenue has changed

The guideline value for Vetri Vinayagar Avenue has undergone several revisions over the years. The earliest available figure is from 2012, where it was set at Rs 650 per sq.ft. This value remained until the next revision in 2017, where it decreased to Rs 435 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 650 per sq.ft in 2023, and then further rose to Rs 720 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 11%. The 2023 revision saw a notable increase of 49% compared to the 2017 figure. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

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 for these streets is Rs 720 per sq.ft, which is equal to the current guideline value of Vetri Vinayagar Avenue.

• Vetri Nagar: 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)
• Walajabad Main Road: Rs 990 per sq.ft (2024)
• Varalakshmi Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Vetri Vinayagar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 720 per sq.ft, the total guideline value would be Rs 7,20,000. The stamp duty at 7% would amount to Rs 50,400, while the registration fee at 2% would be Rs 14,400, bringing the total fees to Rs 64,800. 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 detailed calculations.

Which Sub Registrar Office covers Vetri Vinayagar Avenue?

The Vetri Vinayagar Avenue is covered by 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 plays a crucial role in property transactions in Serapanancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction. This ensures a smoother process and adherence to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vetri Vinayagar Avenue?

The current guideline value of Vetri Vinayagar Avenue 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 to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the land classification for Vetri Vinayagar Avenue?

The land classification for Vetri Vinayagar Avenue is Residential Class I Type - I.

What are the other streets in Serapanancheri with the same guideline value?

Other streets in Serapanancheri with a guideline value of Rs 720 per sq.ft include Vetri Nagar, Vignesh Nagar, Venkatajalapathi Nagar, and Vinneesa Nagar.

Where can I find the Sub Registrar Office for Vetri Vinayagar Avenue?

The Sub Registrar Office covering Vetri Vinayagar Avenue is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.