Guideline Value for Vettri Nagar

Vettri Nagar guideline value

The current guideline value of Vettri Nagar, located in Koozhangacheri village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Vettri Nagar has changed

Over the years, the guideline value of Vettri Nagar has seen various revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision saw a decrease to Rs 134 per sq.ft, marking a -33% change from the 2012 figure. From 2017 to 2023, there was a significant increase of +49%, bringing the value back to Rs 200 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 200 per sq.ft, indicating no change from the previous year. Notably, the register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Koozhangacheri

Koozhangacheri village has 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,200 per sq.ft. The median value for these streets is Rs 226 per sq.ft, placing Vettri Nagar's guideline value below this median.

• Vetri Nagar Part-II: Rs 200 per sq.ft (2024)
• Vijay Nagar: Rs 226 per sq.ft (2024)
• Vinayaga Nagar: Rs 226 per sq.ft (2024)
• Veera Nagar: Rs 226 per sq.ft (2024)
• Vasantham Nagar: Rs 200 per sq.ft (2024)
• Vasantha Garden: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vettri Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. 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 Vettri Nagar?

The Sub Registrar Office that covers Vettri Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Koozhangacheri, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a benchmark to calculate these fees, ensuring that they are aligned with the official valuation set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Vettri Nagar?

The current guideline value of Vettri Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2012 revision, with a decrease to Rs 134 per sq.ft in 2017, followed by an increase back to Rs 200 per sq.ft in 2023. The 2024 revision maintains this value.

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

In Koozhangacheri, other streets include Vetri Nagar Part-II at Rs 200 per sq.ft, Vijay Nagar at Rs 226 per sq.ft, Vinayaga Nagar at Rs 226 per sq.ft, Veera Nagar at Rs 226 per sq.ft, Vasantham Nagar at Rs 200 per sq.ft, and Vasantha Garden at Rs 200 per sq.ft.

What fees are associated with buying property in Vettri Nagar?

When purchasing property in Vettri Nagar, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Vettri Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu. You can find your SRO for more details.