Guideline Value for Vanasakthi Nagar

Vanasakthi Nagar guideline value

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

How the guideline value of Vanasakthi Nagar has changed

Over the years, the guideline value of Vanasakthi Nagar has seen several revisions. The oldest recorded revision was in 2007, when the guideline value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, representing a decline of 33%. The most recent revision in 2024 shows a substantial increase to Rs 2,700 per sq.ft, which is a 61% rise from the 2017 figure.

It is important to note that there are no recorded figures 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 carry 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 Vanasakthi Nagar's 2024 figure below that median.

• Valmiki Street Extension: Rs 2,700 per sq.ft (2024)
• Valmiki Street: Rs 2,700 per sq.ft (2024)
• Valliammai Nagar: Rs 2,700 per sq.ft (2024)
• Vallavan Nagar: Rs 2,700 per sq.ft (2024)
• Varadhan Kuttai: Rs 2,700 per sq.ft (2024)
• Varalakshmi Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vanasakthi Nagar

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 cost 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanasakthi Nagar?

The Sub Registrar Office that covers Vanasakthi Nagar 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 in the registration process of property transactions in Kolathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is assessed by the government and is updated periodically to reflect changes in the real estate market.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price of the property is in line with the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vanasakthi Nagar?

The current guideline value of Vanasakthi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Vanasakthi Nagar has increased 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 other streets in Kolathur with the same guideline value?

Other streets in Kolathur with a guideline value of Rs 2,700 per sq.ft include Valmiki Street Extension, Valmiki Street, Valliammai Nagar, Vallavan Nagar, Varadhan Kuttai, and Varalakshmi Nagar.

Where can I find the Sembiam Sub Registrar Office?

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

How is the stamp duty calculated for property in Vanasakthi Nagar?

The stamp duty for property in Vanasakthi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,89,000 based on the current guideline value.