Guideline Value for Thiru.V.K. Nagar / Street

Thiru.V.K. Nagar / Street guideline value

The current guideline value of Thiru.V.K. Nagar / Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Thiru.V.K. Nagar / Street has changed

The guideline value for Thiru.V.K. Nagar / Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 700 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 257% rise. However, in 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a 33% drop. The 2023 revision saw another increase to Rs 2,500 per sq.ft, followed by the current rate of Rs 2,700 per sq.ft from the 2024 revision, which represents an 8% increase from the previous year.

Notably, there are no recorded figures for the years 2002 and 2003 for Thiru.V.K. Nagar / Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have 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, making the current value of Thiru.V.K. Nagar / Street below this median.

• Thulasi Nagar: Rs 2,700 per sq.ft (2024)
• Thiruveedhiamman Koil Street: Rs 2,700 per sq.ft (2024)
• Thiruveedhiamman Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.V.K. Nagar / Street

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

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

Which Sub Registrar Office covers Thiru.V.K. Nagar / Street?

The Sub Registrar Office that covers Thiru.V.K. Nagar / Street 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 in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thiru.V.K. Nagar / Street?

The current guideline value of Thiru.V.K. Nagar / Street is Rs 2,700 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 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 286% over the years.

What is the stamp duty rate for properties in Thiru.V.K. Nagar / Street?

The stamp duty rate for properties in Thiru.V.K. Nagar / Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thiru.V.K. Nagar / Street?

The Sub Registrar Office for Thiru.V.K. Nagar / Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification of Thiru.V.K. Nagar / Street?

Thiru.V.K. Nagar / Street is classified as Residential Class II Type - I under the current land classification system.