Guideline Value for Valarmathy Nagar 1st Street

Valarmathy Nagar 1st Street guideline value

The current guideline value of Valarmathy 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 Valarmathy Nagar 1st Street has changed

The guideline value for Valarmathy Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure dropped to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,700 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a notable increase of 257%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was an 8% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 286%. The register has no figure 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 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. Valarmathy Nagar 1st Street's current guideline value is below this median.

• Valarmathy Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Vallavan Nagar: Rs 2,700 per sq.ft (2024)
• Valliammai Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Valarmathy 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, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Valarmathy Nagar 1st Street?

The Sub Registrar Office covering Valarmathy Nagar 1st 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 plays a crucial role during 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 transaction is recorded accurately in the official records.

When a buyer or seller approaches the Sembiam SRO for registration, the guideline value will be assessed to calculate the applicable stamp duty and registration fees. This process ensures transparency and compliance with local regulations, making it essential for all property transactions.

Frequently asked questions

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

The current guideline value of Valarmathy 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 has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What is the land classification of Valarmathy Nagar 1st Street?

Valarmathy Nagar 1st Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Valarmathy Nagar 1st Street?

The Sub Registrar Office for Valarmathy Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

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