Guideline Value for Vetrivel Nagar Main Road 3rd Street

Vetrivel Nagar Main Road 3rd Street guideline value

The current guideline value for Vetrivel Nagar Main Road 3rd 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Vetrivel Nagar Main Road 3rd Street has changed

The guideline value for Vetrivel Nagar Main Road 3rd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%.

Following the 2017 revision, the guideline value rose sharply to Rs 3,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, representing a 10% increase 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 that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value for Vetrivel Nagar Main Road 3rd Street matches this median.

• Vetrivel Nagar Main Road 2nd Street: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar Main Road 1st Street: Rs 3,300 per sq.ft (2024)
• Vetrivel Nagar Extension: 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 3rd 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, bringing the total fees 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vetrivel Nagar Main Road 3rd Street?

The Vetrivel Nagar Main Road 3rd Street falls under 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 plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that the government receives the due revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Vetrivel Nagar Main Road 3rd Street?

The current guideline value for Vetrivel Nagar Main Road 3rd 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, reflecting an overall increase of 230% over the years.

What is the land classification for Vetrivel Nagar Main Road 3rd Street?

The land classification for Vetrivel Nagar Main Road 3rd Street is Residential Class I Type - I.

Which office handles registrations for Vetrivel Nagar Main Road 3rd Street?

The Sembiam Sub Registrar Office handles registrations for Vetrivel Nagar Main Road 3rd Street, 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. This ensures that the appropriate fees are collected during the registration process.