Guideline Value for Vettaikaran street

Vettaikaran street guideline value

The current guideline value of Vettaikaran street in Thirupachur village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Special Type - III.

How the guideline value of Vettaikaran street has changed

The guideline value for Vettaikaran street has undergone several revisions over the years. The earliest recorded value is from 2007, set at Rs 50 per sq.ft. This figure saw a significant increase to Rs 1,000 per sq.ft in 2012, marking a 1900% rise. However, in the following revision in 2017, the value decreased to Rs 670 per sq.ft, representing a drop of 33% from the previous figure.

In 2023, the guideline value returned to Rs 1,000 per sq.ft, remaining stable through to the 2024 revision, which also set it at Rs 1,000 per sq.ft, showing no change. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Thirupachur

In Thirupachur village, there are 19 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Vettaikaran street's 2024 figure above this median.

• Vellalar street: Rs 550 per sq.ft (2024)
• Veda Vinayagar Nagar: Rs 626 per sq.ft (2024)
• Vaniya street: Rs 1,000 per sq.ft (2024)
• Tiruttani Road: Rs 2,000 per sq.ft (2024)
• Tirupachur colony: Rs 550 per sq.ft (2024)
• Pookara street/kavari street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vettaikaran street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vettaikaran street?

The Vettaikaran street falls under the Tiruvallur Joint 1 Sub Registrar Office located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Thirupachur. 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.

When a property is registered, the guideline value is assessed to ensure that the appropriate fees are calculated based on either the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Vettaikaran street?

The current guideline value of Vettaikaran street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification for Vettaikaran street?

Vettaikaran street is classified as Residential Special Type - III according to the guidelines set by the Tiruvallur Joint 1 SRO.

What are the other streets in Thirupachur with their guideline values?

Other streets in Thirupachur include Vellalar street at Rs 550 per sq.ft, Veda Vinayagar Nagar at Rs 626 per sq.ft, Vaniya street at Rs 1,000 per sq.ft, Tiruttani Road at Rs 2,000 per sq.ft, Tirupachur colony at Rs 550 per sq.ft, and Pookara street/kavari street at Rs 1,000 per sq.ft.

Where can I find the Sub Registrar Office for Vettaikaran street?

The Sub Registrar Office covering Vettaikaran street is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.