Guideline Value for Vetriselvi Anbazagan Nagar 7th Street

Vetriselvi Anbazagan Nagar 7th Street guideline value

The current guideline value of Vetriselvi Anbazagan Nagar 7th 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 7th Street has changed

The guideline value of Vetriselvi Anbazagan Nagar 7th Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both 2012 and 2023. The 2024 revision saw a further increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Between the revisions, the most notable change occurred from 2007 to 2012, where the guideline value increased by 200%. From 2012 to 2023, there was no change in the guideline value, but overall, from 2007 to 2024, the increase is 230%. The register has no figures for this street for the years 2002, 2003, and 2017.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for Vetriselvi Anbazagan Nagar 7th Street.

• Vetriselvi Anbazagan Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vetriselvi Anbazagan Nagar 7th 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, bringing the total to 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vetriselvi Anbazagan Nagar 7th Street?

The Sub Registrar Office that covers Vetriselvi Anbazagan Nagar 7th Street 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 is a crucial factor when buying or selling property in Kolathur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price meets or exceeds the guideline value to avoid any legal issues during registration. The registration process relies heavily on the guideline value to ensure compliance with local regulations and taxation policies.

Frequently asked questions

What is the current guideline value of Vetriselvi Anbazagan Nagar 7th Street?

The current guideline value of Vetriselvi Anbazagan Nagar 7th 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification for Vetriselvi Anbazagan Nagar 7th Street?

The land classification for Vetriselvi Anbazagan Nagar 7th Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Vetriselvi Anbazagan Nagar 7th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.