Guideline Value for V.V. Nagar 6th Street

V.V. Nagar 6th Street guideline value

The current guideline value of V.V. Nagar 6th 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 6th Street has changed

The guideline value for V.V. Nagar 6th 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, it then decreased to Rs 1,675 per sq.ft in 2017, representing a 33% drop. The value rose again to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,700 per sq.ft in 2024, reflecting an 8% change.

Overall, from 2007 to 2024, the guideline value has increased by 170%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a guideline value for 2024 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, placing V.V. Nagar 6th Street's 2024 value below this median.

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

Stamp duty and registration fee for property in V.V. Nagar 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the 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, 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.

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

Which Sub Registrar Office covers V.V. Nagar 6th Street?

The Sub Registrar Office that covers V.V. Nagar 6th 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. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When registering a property, the guideline value helps in calculating the stamp duty and registration fees. It is important for both parties in a transaction to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.V. Nagar 6th Street?

The current guideline value of V.V. Nagar 6th 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 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 is the land classification for V.V. Nagar 6th Street?

The land classification for V.V. Nagar 6th Street is Residential Class II Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.