Guideline Value for Vashan Nagar / Vashantham Nagar

Vashan Nagar / Vashantham Nagar guideline value

The current guideline value for Vashan Nagar / Vashantham 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 is classified as Residential Class II Type - I.

How the guideline value of Vashan Nagar / Vashantham Nagar has changed

The guideline value for Vashan Nagar / Vashantham Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, the value then dropped to Rs 1,675 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting a substantial increase of 61% from the 2017 figure.

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

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry 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 Vashan Nagar / Vashantham Nagar is below this median.

• Varalakshmi Nagar: Rs 2,700 per sq.ft (2024)
• Varadhan Kuttai: Rs 2,700 per sq.ft (2024)
• Vanasakthi Nagar: Rs 2,700 per sq.ft (2024)
• Valmiki Street Extension: Rs 2,700 per sq.ft (2024)
• Valmiki Street: Rs 2,700 per sq.ft (2024)
• Velavan Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vashan Nagar / Vashantham Nagar

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 fees to Rs 2,43,000. Please 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 Vashan Nagar / Vashantham Nagar?

The Vashan Nagar / Vashantham Nagar area falls under 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 when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the correct amounts are paid to the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the necessary fees are collected based on the value of the property.

Frequently asked questions

What is the current guideline value of Vashan Nagar / Vashantham Nagar?

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

How much 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, representing an overall increase of 170% over the years.

What are the stamp duty and registration fees in Vashan Nagar / Vashantham Nagar?

For a plot of 1,000 sq.ft at the current guideline value, the total 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 Vashan Nagar / Vashantham Nagar?

The Sembiam Sub Registrar Office handles property registrations for Vashan Nagar / Vashantham Nagar, located at 5, Papermills Road, Sembiam, Chennai - 600011.

Are there other streets with the same guideline value in Kolathur?

Yes, there are other streets in Kolathur with the same guideline value of Rs 2,700 per sq.ft, including Varalakshmi Nagar, Varadhan Kuttai, Vanasakthi Nagar, Valmiki Street Extension, and Valmiki Street.