Guideline Value for Vetrivel Nagar

Vetrivel Nagar guideline value

The current guideline value of Vetrivel Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Vetrivel Nagar has changed

The guideline value for Vetrivel Nagar has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase of 49% to Rs 3,000 per sq.ft in 2023, and now stands at Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

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. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Vetrivel Nagar.

• Vetrivel Nagar Extension: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar Main Road 1st Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar Main Road 2nd Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar Main Road 3rd Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total costs together to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetrivel Nagar?

The Sub Registrar Office that covers Vetrivel Nagar is 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 when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must be aware that the guideline value affects the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is referenced to ensure that the transaction is recorded at a fair value. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Vetrivel Nagar?

The current guideline value of Vetrivel Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification for Vetrivel Nagar?

The land classification for Vetrivel Nagar is Residential Class I Type - I.

What are the stamp duty and registration fees for property in Vetrivel Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,97,000.

Which office handles registrations for Vetrivel Nagar?

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