Guideline Value for Velmurugan Nagar 4th Street

Velmurugan Nagar 4th Street guideline value

The current guideline value of Velmurugan Nagar 4th Street is Rs 3,300 per sq.ft. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

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

In the 2007 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 3,000 per sq.ft, marking a change of 200%. The guideline value remained unchanged at Rs 3,000 per sq.ft in the 2023 revision. However, in the 2024 revision, the guideline value increased by 10% to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2017 for Velmurugan Nagar 4th Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

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. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Velmurugan Nagar 4th Street.

• Velmurugan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Velmurugan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Velmurugan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Velmurugan Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Velmurugan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Velmurugan Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Velmurugan Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Velmurugan Nagar 4th Street?

The Sub Registrar Office that covers Velmurugan Nagar 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Kolathur

The guideline value is an essential factor in property transactions in Kolathur, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is crucial for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction, including the fees that must be paid during the registration process.

Frequently asked questions

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

The current guideline value of Velmurugan Nagar 4th Street is Rs 3,300 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 3,300 per sq.ft in 2024, marking an overall increase of 230%.

What are the stamp duty rates for properties in Velmurugan Nagar 4th Street?

The stamp duty rate for properties in Velmurugan Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

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

What other streets in Kolathur have the same guideline value?

Other streets in Kolathur that share the same guideline value of Rs 3,300 per sq.ft include Velmurugan Nagar 1st, 2nd, 3rd, 5th, 6th, and 7th Streets.