Guideline Value for Vetrivel Nagar

Vetrivel Nagar guideline value

The current guideline value of Vetrivel Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Katrampakkam village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vetrivel Nagar has changed

Over the years, the guideline value for Vetrivel Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 250 per sq.ft in 2012. However, the 2017 revision saw a decrease to Rs 167 per sq.ft. The value remained stable at Rs 250 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 50%. The significant jump occurred from 2007 to 2012, where the value rose by 150%. Overall, from 2007 to 2024, the guideline value has increased by 150%, with the current value aligning with the median of Rs 250 per sq.ft for 41 streets in Katrampakkam under the Sriperumpudur SRO.

Guideline values in Katrampakkam

In Katrampakkam, the guideline values range from Rs 150 to Rs 800 per sq.ft, with a median of Rs 250 per sq.ft. Vetrivel Nagar's 2024 figure matches this median. Below are other streets in Katrampakkam with their respective guideline values:

• Vettri Nagar: Rs 250 per sq.ft (2024)
• Venugopal Nagar: Rs 250 per sq.ft (2024)
• Venkatapuri: Rs 250 per sq.ft (2024)
• Vinayagar Koil Street: Rs 300 per sq.ft (2024)
• Yadhava Street: Rs 250 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Vetrivel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Vetrivel Nagar?

The Sub Registrar Office that covers Vetrivel Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Katrampakkam. It serves as a benchmark for property transactions and is used to calculate the stamp duty and registration fees during the registration process. Buyers and sellers should be aware that the guideline value can impact the overall cost of the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vetrivel Nagar?

The current guideline value of Vetrivel Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent changes being Rs 250 per sq.ft in both 2023 and 2024, and a decrease to Rs 167 per sq.ft in 2017 from Rs 250 per sq.ft in 2012.

What is the classification of land in Vetrivel Nagar?

Vetrivel Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vetrivel Nagar?

The Sub Registrar Office for Vetrivel Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vetrivel Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft would incur a total stamp duty of Rs 17,500.