Guideline Value for Verkadalaisamy Street

Verkadalaisamy Street guideline value

The current guideline value of Verkadalaisamy Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Verkadalaisamy Street has changed

The guideline value for Verkadalaisamy Street has undergone several revisions since 2002. In 2002, the value was Rs 319 per sq.ft, which increased to Rs 346 per sq.ft in 2003, marking an increase of 8%. The value saw a significant rise to Rs 700 per sq.ft in 2007, reflecting a 102% increase. By 2012, the value was revised to Rs 2,500 per sq.ft, which represented a substantial increase of 257% from the previous revision. However, from 2017 to 2023, the value rose to Rs 2,500 per sq.ft, followed by an increase to Rs 2,700 per sq.ft in 2024, which is an 8% change.

From 2017 to 2023, the guideline value increased by 49% from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 746%, reaching the current rate of Rs 2,700 per sq.ft.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Verkadalaisamy Street.

• Venkatesan Nagar / Venkateswara Nagar: Rs 1,900 per sq.ft (2024)
• Vasudevagramani Street: Rs 2,200 per sq.ft (2024)
• Watkins Street: Rs 3,500 per sq.ft (2024)
• Vajiravelu Mudali Street: Rs 2,700 per sq.ft (2024)
• Union Public Lane: Rs 2,700 per sq.ft (2024)
• Thivuvalluvar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Verkadalaisamy 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. 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 Verkadalaisamy Street?

The Sub Registrar Office that covers Verkadalaisamy Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Sembiam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Verkadalaisamy Street?

The current guideline value of Verkadalaisamy 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 319 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 746% over the years.

What are the other streets in Sembiam and their guideline values?

Other streets in Sembiam include Venkatesan Nagar / Venkateswara Nagar at Rs 1,900 per sq.ft, Vasudevagramani Street at Rs 2,200 per sq.ft, Watkins Street at Rs 3,500 per sq.ft, Vajiravelu Mudali Street at Rs 2,700 per sq.ft, Union Public Lane at Rs 2,700 per sq.ft, and Thivuvalluvar Street at Rs 2,700 per sq.ft.

What are the stamp duty and registration fees for properties in Verkadalaisamy Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Verkadalaisamy Street located?

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