Guideline Value for VEMBULI AMMAN KOIL STREET

Vembuli Amman Koil Street guideline value

The current guideline value of Vembuli Amman Koil Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class I Type - I.

How the guideline value of Vembuli Amman Koil Street has changed

The guideline value for Vembuli Amman Koil Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 111 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2007, marking a rise of 621%. In 2012, the guideline value was revised to Rs 4,000 per sq.ft, reflecting a substantial increase of 400% from the previous revision. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, followed by a further rise to Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 3864%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median of Rs 3,300 per sq.ft. Vembuli Amman Koil Street's 2024 figure of Rs 4,400 per sq.ft is above this median.

• Venkateswara Avenue: Rs 3,300 per sq.ft (2024)
• Venkateswaran Nagar: Rs 2,200 per sq.ft (2024)
• Vigneshwara Colony: Rs 3,300 per sq.ft (2024)
• Vinayaga Avenue: Rs 6,600 per sq.ft (2024)
• Vinayaga Avenue (Near P.T.C.Quarters): Rs 3,300 per sq.ft (2024)
• Vinayaga Nagar: Rs 5,500 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. 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 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 Okkiyamthuraipakkam

The guideline value is a critical factor during property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the guideline value helps in assessing the stamp duty and registration fees due. This ensures that both parties are aware of the financial implications involved in the transaction, based on the established guideline value for the property in question.

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 4,400 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 111 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 3864% over the years.

What is the land classification for Vembuli Amman Koil Street?

Vembuli Amman Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Vembuli Amman Koil Street?

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