Guideline Value for METRO VENGAMBAKKAM HOUSE SITE SCHEME

Metro Vengambakkam House Site Scheme guideline value

The current guideline value for the Metro Vengambakkam House Site Scheme is Rs 4,460 per sq.ft, effective from 1 July 2024. This scheme is located in Vengambakkam village under the Tambaram Joint 1 SRO, with a land classification of Mixed Type - I.

How the guideline value of Metro Vengambakkam House Site Scheme has changed

Looking at the historical revisions, the guideline value for this street was Rs 2,700 per sq.ft in 2017. It increased significantly to Rs 4,050 per sq.ft in 2023, marking a 50% rise. The most recent revision in 2024 saw another increase to Rs 4,460 per sq.ft, which is a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has risen by 65%.

The register has no figures for the years 2002, 2003, 2007, and 2012. Therefore, the only available figures are from 2017, 2023, and the current 2024 revision.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing the Metro Vengambakkam House Site Scheme's 2024 figure above that median.

• Mayana Salai: Rs 440 per sq.ft (2024)
• M.G.R. Street: Rs 440 per sq.ft (2024)
• Murugan Nagar Phase I: Rs 3,300 per sq.ft (2024)
• Murugan Nagar Phase II: Rs 3,300 per sq.ft (2024)
• Murugan Nagar Phase - III: Rs 2,200 per sq.ft (2024)
• Murugan Nagar Phase-IV: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Metro Vengambakkam House Site Scheme

For a 1,000 sq.ft plot at the current guideline value of Rs 4,460 per sq.ft, the total guideline value would be Rs 44,60,000. The stamp duty at 7% would amount to Rs 3,12,200, and the registration fee at 2% would be Rs 89,200, bringing the total fees to Rs 4,01,400. 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 Metro Vengambakkam House Site Scheme?

The Metro Vengambakkam House Site Scheme falls under the Tambaram Joint 1 Sub Registrar Office located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Vengambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of property registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official valuation of the property as per the local government regulations.

Frequently asked questions

What is the current guideline value for Metro Vengambakkam House Site Scheme?

The current guideline value for the Metro Vengambakkam House Site Scheme is Rs 4,460 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,700 per sq.ft to Rs 4,460 per sq.ft in 2024, representing a total increase of 65% over this period.

What are the other streets in Vengambakkam and their guideline values?

Other streets in Vengambakkam include Mayana Salai and M.G.R. Street, both at Rs 440 per sq.ft, and Murugan Nagar Phase I and II at Rs 3,300 per sq.ft. There are several other streets with varying guideline values.

What is the stamp duty rate for property in Metro Vengambakkam?

The stamp duty rate for property transactions in Metro Vengambakkam is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Metro Vengambakkam?

The Sub Registrar Office covering Metro Vengambakkam is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.