Guideline Value for V.V. Nagar 4th Street

V.V. Nagar 4th Street guideline value

The current guideline value of V.V. Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of V.V. Nagar 4th Street has changed

The guideline value for V.V. Nagar 4th Street has undergone several revisions since 2007. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 has brought the value back up to Rs 2,700 per sq.ft, a notable 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 the revisions in 2023, 2003, and 2002 for this street.

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. The median guideline value in this area is Rs 3,300 per sq.ft, which means that V.V. Nagar 4th Street's current value is below this median.

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

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 essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers V.V. Nagar 4th Street?

The V.V. Nagar 4th Street is covered by 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 the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps to establish a fair price for the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal issues during the sale process.

Frequently asked questions

What is the current guideline value of V.V. Nagar 4th Street?

The current guideline value of V.V. Nagar 4th 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 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 170% over this period.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which office handles the registration for V.V. Nagar 4th Street?

The Sembiam Sub Registrar Office handles the registration for V.V. Nagar 4th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

Are there any revisions without figures for this street?

Yes, the guideline register has no figures for the revisions in 2023, 2003, and 2002 for V.V. Nagar 4th Street.