Guideline Value for Sri Venkatajalapathi Nagar

Sri Venkatajalapathi Nagar guideline value

The current guideline value of Sri Venkatajalapathi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Venkatajalapathi Nagar has changed

The guideline value for Sri Venkatajalapathi Nagar has undergone several revisions over the years. Starting from Rs 285 per sq.ft in 2003, the value increased significantly to Rs 700 per sq.ft in 2007, which was a rise of 146%. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2012, marking a 257% increase. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is an increase of 61% from the 2017 figure.

Overall, from 2003 to 2024, the guideline value has increased by 847%. It is important to note that there are no figures available for the years 2023 and 2002 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value for Sri Venkatajalapathi Nagar is below this median.

• Sri Venkatesa Nagar: Rs 2,700 per sq.ft (2024)
• Sri Vel Murugan Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Sri Vel Murugan Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkatajalapathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkatajalapathi Nagar?

Sri Venkatajalapathi Nagar is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property, which can affect negotiations and final sale prices. It is essential for buyers and sellers to be aware of the current guideline value to ensure a smooth transaction process.

Frequently asked questions

What is the current guideline value of Sri Venkatajalapathi Nagar?

The current guideline value of Sri Venkatajalapathi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 285 per sq.ft to Rs 2,700 per sq.ft in 2024, which is an overall increase of 847%.

What is the registration office for Sri Venkatajalapathi Nagar?

The registration office for Sri Venkatajalapathi Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration price for properties, influencing the stamp duty and registration fees payable during transactions in Kolathur.