Guideline Value for Valarmathy Nagar 4th Street

Valarmathy Nagar 4th Street guideline value

The current guideline value of Valarmathy 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 jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Valarmathy Nagar 4th Street has changed

The guideline value for Valarmathy Nagar 4th 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 value decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision saw an increase to Rs 2,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,700 per sq.ft.

In terms of percentage changes, from 2007 to 2012, there was a substantial increase of 257%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023 and saw an 8% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 286%. 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 2024 guideline value range from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making Valarmathy Nagar 4th Street's 2024 figure below that median.

• Valarmathy Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Valarmathy Nagar 1st 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 4th 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, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valarmathy Nagar 4th Street?

The Sub Registrar Office that covers Valarmathy Nagar 4th 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

When buying or selling property in Kolathur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a basis for calculating these fees during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it can impact the overall cost of the transaction. The guideline value is regularly revised to reflect changes in the real estate market, ensuring that it remains relevant for property transactions.

Frequently asked questions

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

The current guideline value of Valarmathy 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 from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, with several revisions in between, including a decrease in 2017 and increases in subsequent years.

What is the land classification for Valarmathy Nagar 4th Street?

The land classification for Valarmathy Nagar 4th Street is Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Valarmathy Nagar 4th Street?

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

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. It is important for buyers to be aware of the current guideline value to estimate their total costs accurately.