Guideline Value for Colony Vembulliamman Kovil Street

Colony Vembulliamman Kovil Street guideline value

The current guideline value of Colony Vembulliamman Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Colony Vembulliamman Kovil Street has changed

The guideline value for Colony Vembulliamman Kovil Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was adjusted to Rs 134 per sq.ft. This was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision has kept the guideline value stable at Rs 200 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,418 per sq.ft. The median guideline value in this area is Rs 305 per sq.ft, indicating that Colony Vembulliamman Kovil Street's 2024 figure is below this median.

• Colony Melandai Street: Rs 200 per sq.ft (2024)
• Colony Kizhandai Street: Rs 200 per sq.ft (2024)
• Colony Bajanai Kovil Street: Rs 275 per sq.ft (2024)
• ETA Florence Garden: Rs 500 per sq.ft (2024)
• Bangalore Main Road: Rs 1,250 per sq.ft (2024)
• Florence Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Colony Vembulliamman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which totals Rs 14,000, and the registration fee is 2%, amounting to Rs 4,000. Therefore, the total cost for stamp duty and registration fees would be Rs 18,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Colony Vembulliamman Kovil Street?

The Sub Registrar Office that covers Colony Vembulliamman Kovil Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Colony Vembulliamman Kovil Street?

The current guideline value of Colony Vembulliamman Kovil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a notable decrease to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which Sub Registrar Office handles registrations for this street?

The Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, handles registrations for Colony Vembulliamman Kovil Street.

What is the land classification for Colony Vembulliamman Kovil Street?

The land classification for Colony Vembulliamman Kovil Street is Residential Class IV Type - I.