Guideline Value for V.P. Sindhan Nagar

V.P. Sindhan Nagar guideline value

The current guideline value of V.P. Sindhan 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 SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of V.P. Sindhan Nagar has changed

Over the years, the guideline value of V.P. Sindhan Nagar has seen several revisions. Starting from Rs 290 per sq.ft in 2003, it increased to Rs 700 per sq.ft in 2007, marking a significant rise of 141%. The value then surged to Rs 2,500 per sq.ft in 2012, a remarkable increase of 257%. However, between 2012 and 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease 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.

It is important to note that there are no figures available for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 831%.

Guideline values in Kolathur

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

• V.V. Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• V.V. Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.P. Sindhan 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 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.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.P. Sindhan Nagar?

The Sub Registrar Office that covers V.P. Sindhan Nagar is 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 property transactions in Kolathur, as it is used to determine the stamp duty and registration fees during the buying or selling process. When a property is registered, the guideline value or the sale price is taken into account, with the higher amount being used for calculating these fees.

Understanding the guideline value is essential for buyers and sellers alike, as it helps in estimating the total cost involved in the property transaction. It ensures transparency and adherence to the legal requirements set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of V.P. Sindhan Nagar?

The current guideline value of V.P. Sindhan Nagar 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 290 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for V.P. Sindhan Nagar?

The land classification for V.P. Sindhan Nagar is Residential Class II Type - I.

Where can I find the Sub Registrar Office for V.P. Sindhan Nagar?

The Sub Registrar Office for V.P. Sindhan Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in V.P. Sindhan Nagar?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the same amount.