Guideline Value for Vetrivel Nagar Main Road 1st Street

Vetrivel Nagar Main Road 1st Street guideline value

The current guideline value of Vetrivel Nagar Main Road 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Vetrivel Nagar Main Road 1st Street has changed

Over the years, the guideline value for Vetrivel Nagar Main Road 1st Street has seen significant changes. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 200%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then increased again to Rs 3,000 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Vetrivel Nagar Main Road 1st Street.

• Vetrivel Nagar Extension: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar Main Road 2nd Street: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar Main Road 3rd Street: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar: Rs 3,300 per sq.ft (2024)
• Vetriselvi Anbazagan Nagar 8th 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 Vetrivel Nagar Main Road 1st 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 cost for these fees to Rs 2,97,000. It is essential 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 Vetrivel Nagar Main Road 1st Street?

The Sub Registrar Office that covers Vetrivel Nagar Main Road 1st 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 Kolathur

The guideline value is a crucial factor in property transactions in Kolathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and in compliance with local regulations.

It is important for buyers and sellers to be aware of the current guideline value as it can affect the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Vetrivel Nagar Main Road 1st Street?

The current guideline value of Vetrivel Nagar Main Road 1st 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 significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What is the land classification for Vetrivel Nagar Main Road 1st Street?

The land classification for Vetrivel Nagar Main Road 1st Street is Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is 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 with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.