Guideline Value for Vettri Selvi Anbazhagan Nagar

Vettri Selvi Anbazhagan Nagar guideline value

The current guideline value of Vettri Selvi Anbazhagan Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Konnur village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vettri Selvi Anbazhagan Nagar has changed

The guideline value for Vettri Selvi Anbazhagan Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 257 per sq.ft. This increased to Rs 279 per sq.ft in 2003, marking a rise of 9%. The value then saw a significant increase to Rs 800 per sq.ft in 2007, which was a 187% jump. Following this, the value rose dramatically to Rs 5,000 per sq.ft in 2012, reflecting a 525% increase. However, between 2012 and 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The most recent revisions show that the value increased to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2040%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for Vettri Selvi Anbazhagan Nagar is above this median.

• Vetriselvi Shri Ranga Street: Rs 5,500 per sq.ft (2024)
• Venture Garden: Rs 3,500 per sq.ft (2024)
• Velumani Street: Rs 3,800 per sq.ft (2024)
• Vellerithangal Lane: Rs 3,800 per sq.ft (2024)
• Vellalar Street: Rs 5,500 per sq.ft (2024)
• Veeraranga Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vettri Selvi Anbazhagan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 precise calculations.

Which Sub Registrar Office covers Vettri Selvi Anbazhagan Nagar?

The Sub Registrar Office that covers Vettri Selvi Anbazhagan Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Konnur. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When a property transaction occurs, the guideline value helps determine the minimum price at which a property can be registered. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vettri Selvi Anbazhagan Nagar?

The current guideline value of Vettri Selvi Anbazhagan Nagar is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 257 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 2040%.

What is the registration office for Vettri Selvi Anbazhagan Nagar?

The registration office for Vettri Selvi Anbazhagan Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in Konnur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.

What are the guideline values for other streets in Konnur?

Other streets in Konnur have varying guideline values. For example, Vetriselvi Shri Ranga Street and Vellalar Street both have a guideline value of Rs 5,500 per sq.ft, while Venture Garden has a value of Rs 3,500 per sq.ft.