Guideline Value for V.V. Nagar 1st Street

V.V. Nagar 1st Street guideline value

The current guideline value of V.V. Nagar 1st 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 is classified as Residential Class II Type - I.

How the guideline value of V.V. Nagar 1st Street has changed

The guideline value for V.V. Nagar 1st Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the value was Rs 1,000 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, marking a significant rise of 150%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, reflecting a drop of 33%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an increase of 61% from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 170%.

It is important to note that there are no figures available for V.V. Nagar 1st Street for the years 2023, 2003, and 2002 in the register.

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, with a median value of Rs 3,300 per sq.ft. The guideline value for V.V. Nagar 1st Street is below this median.

• 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)
• V.V. Nagar Extension: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.V. Nagar 1st 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, while 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 or the sale price.

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

Which Sub Registrar Office covers V.V. Nagar 1st Street?

The Sub Registrar Office that covers V.V. Nagar 1st Street 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 is a crucial factor in property transactions in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value serves as a reference point for calculating the applicable taxes and fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of V.V. Nagar 1st Street?

The current guideline value of V.V. Nagar 1st 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 for V.V. Nagar 1st Street has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 170% over the years.

Are there any years without a recorded guideline value for this street?

Yes, there are no recorded guideline values for V.V. Nagar 1st Street for the years 2023, 2003, and 2002 in the register.

What are the stamp duty and registration fees for a property on this street?

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registrations for V.V. Nagar 1st Street?

The Sembiam Sub Registrar Office handles registrations for V.V. Nagar 1st Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.