Guideline Value for V.V. Nagar 5th Street

V.V. Nagar 5th Street guideline value

The current guideline value of V.V. Nagar 5th 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of V.V. Nagar 5th Street has changed

The guideline value for V.V. Nagar 5th Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, this value decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is a 61% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

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 5th Street is below this median.

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

Stamp duty and registration fee for property in V.V. Nagar 5th 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 be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.V. Nagar 5th Street?

The V.V. Nagar 5th Street 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 is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of V.V. Nagar 5th Street?

The current guideline value of V.V. Nagar 5th 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%.

What are the stamp duty and registration fees for property in V.V. Nagar 5th Street?

For a 1,000 sq.ft plot at the current guideline value, the 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 property registrations for V.V. Nagar 5th Street?

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

What is the land classification for V.V. Nagar 5th Street?

The land classification for V.V. Nagar 5th Street is Residential Class II Type - I.