Guideline Value for VEMBULI AMMAN KOIL STREET.

Vembuli Amman Koil Street. guideline value

The current guideline value of Vembuli Amman Koil Street. is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Vembuli Amman Koil Street. has changed

The guideline value for Vembuli Amman Koil Street. has undergone several revisions over the years. In 2002, the value was Rs 173 per sq.ft, which increased to Rs 194 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it stands at Rs 1,700 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +12%; from 2003 to 2007, it surged by +261%; from 2007 to 2012, it increased by +114%; however, it decreased by -33% from 2012 to 2017. The value then rose by +49% from 2017 to 2023, and finally, there was a +13% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +883%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which means Vembuli Amman Koil Street.'s current value is below that median.

• Vembuli Amman Koil 3rd Cross Street.: Rs 1,700 per sq.ft (2024)
• Vembuli Amman Koil 2nd Cross Street.: Rs 1,700 per sq.ft (2024)
• Vembuli Amman Koil 1st Cross Street.: Rs 1,700 per sq.ft (2024)
• Vellaikeni Kulam Street: Rs 2,200 per sq.ft (2024)
• Veeramani Salai Main Road: Rs 3,300 per sq.ft (2024)
• Veeramani Main Salai 4th Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Amman Koil Street.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vembuli Amman Koil Street.?

The Sub Registrar Office that covers Vembuli Amman Koil Street. is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it directly impacts the costs involved in the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Vembuli Amman Koil Street.?

The current guideline value of Vembuli Amman Koil Street. is Rs 1,700 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 173 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of +883% over the years.

What is the land classification for Vembuli Amman Koil Street.?

Vembuli Amman Koil Street. is classified as Residential Class IV Type - II.

Where can I find the registration office for Vembuli Amman Koil Street.?

The registration office for Vembuli Amman Koil Street. is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for property in Vembuli Amman Koil Street.?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,19,000 at a rate of 7%.