Guideline Value for Vinobha Nagar 1st Street

Vinobha Nagar 1st Street guideline value

The current guideline value of Vinobha Nagar 1st Street is Rs 2,200 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 IV Type - I.

How the guideline value of Vinobha Nagar 1st Street has changed

The guideline value for Vinobha Nagar 1st Street has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 700 per sq.ft. This figure significantly increased to Rs 2,000 per sq.ft in 2012, marking a 186% rise. The value remained unchanged at Rs 2,000 per sq.ft until the 2023 revision, which brought it to Rs 2,200 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%. It is important to note that there are no recorded figures for Vinobha Nagar 1st Street in the revisions for the years 2002, 2003, and 2017.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value 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, placing Vinobha Nagar 1st Street's 2024 figure below this median.

• Vinobaba Nagar: Rs 2,200 per sq.ft (2024)
• Vinayagar Koil Street: Rs 2,200 per sq.ft (2024)
• Vinayagar Colony: Rs 2,700 per sq.ft (2024)
• Vivekananda Street (Ramakrishna Nagar): Rs 2,200 per sq.ft (2024)
• Vivekanandha Nagar: Rs 2,200 per sq.ft (2024)
• Vivek Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vinobha Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Please 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 Vinobha Nagar 1st Street?

The Sub Registrar Office covering Vinobha Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registers.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Vinobha Nagar 1st Street?

The current guideline value of Vinobha Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 2,200 per sq.ft in 2024, marking a total increase of 214% over the years.

What are the registration fees for property transactions in Vinobha Nagar 1st Street?

The registration fees for property transactions are calculated based on the guideline value. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000.

Which office handles property registrations in Kolathur?

The Sembiam Sub Registrar Office handles property registrations for Vinobha Nagar 1st Street and other areas in Kolathur.

Where can I find more information about stamp duty and registration fees?

For more information, you can visit the stamp duty and registration fee calculator to understand the costs involved in property transactions.