Guideline Value for Vetriselvi Anbazagan Nagar 2nd Street

Vetriselvi Anbazagan Nagar 2nd Street guideline value

The current guideline value of Vetriselvi Anbazagan Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vetriselvi Anbazagan Nagar 2nd Street has changed

In the 2007 revision, the guideline value was set at Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% increase. The guideline value remained unchanged at Rs 3,000 per sq.ft during the 2023 revision.

With the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Vetriselvi Anbazagan Nagar 2nd Street.

• Vetriselvi Anbazagan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vetriselvi Anbazagan Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetriselvi Anbazagan Nagar 2nd Street?

The Vetriselvi Anbazagan Nagar 2nd Street is covered by 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 is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

When buying or selling property, the guideline value helps to determine the legal and financial obligations involved in the transaction. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to accurately calculate the total costs associated with the property transfer.

Frequently asked questions

What is the current guideline value of Vetriselvi Anbazagan Nagar 2nd Street?

The current guideline value of Vetriselvi Anbazagan Nagar 2nd 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 seen various changes, starting from Rs 1,000 per sq.ft in 2007, rising to Rs 3,000 per sq.ft in 2012, and remaining at Rs 3,000 per sq.ft until 2023. The latest revision in 2024 increased it to Rs 3,300 per sq.ft.

What is the median guideline value for streets in Kolathur?

The median guideline value for the 879 streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is the same as the 2024 figure for Vetriselvi Anbazagan Nagar 2nd Street.

What are the stamp duty and registration fees based on the guideline value?

For a property with a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Vetriselvi Anbazagan Nagar 2nd Street?

The Sembiam Sub Registrar Office handles property registrations for Vetriselvi Anbazagan Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.