Guideline Value for VAMBULIAMMAN KOIL STREET

Vambuliamman Koil Street guideline value

The current guideline value of Vambuliamman Koil Street is Rs 1,100 per sq.ft. This street is located in Thirusulam village and falls under the Pallavaram SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vambuliamman Koil Street has changed

The guideline value for Vambuliamman Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% increase. However, between 2012 and 2017, the value decreased to Rs 670 per sq.ft, reflecting a 33% decline. The value then rose to Rs 1,000 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 1,100 per sq.ft, a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the guideline value back up to Rs 1,000 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 450%, highlighting significant changes in the valuation over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO with the 2024 guideline values ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median value for these streets is Rs 1,940 per sq.ft, making the current value of Vambuliamman Koil Street below this median.

• Vaithiyar Street Extn: Rs 1,940 per sq.ft (2024)
• Vaithiyar Street Ext 1 To 4 Streets: Rs 1,940 per sq.ft (2024)
• Vaithiyar Street: Rs 1,940 per sq.ft (2024)
• Vembuliamman Koil 1 To 5 Streets: Rs 1,100 per sq.ft (2024)
• Venkateshwara Avenue 1 Street: Rs 1,100 per sq.ft (2024)
• Venkateshwara Avenue 2 Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vambuliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Vambuliamman Koil Street?

The Sub Registrar Office that covers Vambuliamman Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Thirusulam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps to determine the legal sale price, as the transaction cannot be registered for less than the guideline value. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vambuliamman Koil Street?

The current guideline value of Vambuliamman Koil Street is Rs 1,100 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 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, which is an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Vambuliamman Koil Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Vambuliamman Koil Street?

The Pallavaram Sub Registrar Office handles registrations for Vambuliamman Koil Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Vambuliamman Koil Street?

The land classification for Vambuliamman Koil Street is Residential Class IV Type - I, indicating its use for residential purposes.