Guideline Value for Vetriah Street

Vetriah Street guideline value

The current guideline value of Vetriah Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Vetriah Street has changed

The guideline value for Vetriah Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,700 per sq.ft. The changes between these revisions are as follows: from 2012 to 2017, the value decreased by 33%; from 2017 to 2023, it increased by 49%; and from 2023 to 2024, there was an increase of 8%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register has no figures for Vetriah Street in the years 2002, 2003, and 2007.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Vetriah Street's 2024 guideline value of Rs 2,700 per sq.ft is below this median.

• Vetri Nagar: Rs 2,700 per sq.ft (2024)
• Venus Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Venus Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Venus Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vetriah Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total fees together Rs 2,43,000. 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 Vetriah Street?

Vetriah Street falls under the Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue in the form of stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in understanding the value of the property in the context of the local real estate market and ensures compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Vetriah Street?

The current guideline value of Vetriah Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Vetriah Street?

Vetriah Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Vetriah Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for Vetriah Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Vetriah Street.