Guideline Value for VEMBULI AMMAN KOVIL STREET

Vembuli Amman Kovil Street guideline value

The current guideline value of Vembuli Amman Kovil Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village, under the Chennai South Joint I SRO, and falls under the Residential Class V Type - III land classification.

How the guideline value of Vembuli Amman Kovil Street has changed

The guideline value for Vembuli Amman Kovil Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 899 per sq.ft. It increased to Rs 995 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,300 per sq.ft in 2007, reflecting a 31% increase. In 2012, the value was Rs 3,200 per sq.ft, which was a significant increase of 146%. However, it decreased to Rs 2,144 per sq.ft in 2017, showing a decline of 33%. The 2023 revision set the value at Rs 3,200 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,520 per sq.ft, a rise of 10%.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 292%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Vembuli Amman Kovil Street's 2024 figure below that median.

• Vasudeva Nagar Extn: Rs 11,000 per sq.ft (2024)
• Vasudeva Nagar: Rs 11,000 per sq.ft (2024)
• Valmeegi Street: Rs 7,150 per sq.ft (2024)
• Valmeegi Nagar 4th Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 3rd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 2nd Sea Ward: Rs 12,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Amman Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total cost for these fees to Rs 3,16,800. Please note that 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 Kovil Street?

The Sub Registrar Office covering Vembuli Amman Kovil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the actual value of the property being transacted.

Frequently asked questions

What is the current guideline value of Vembuli Amman Kovil Street?

The current guideline value of Vembuli Amman Kovil Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 899 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, showing an overall increase of 292% over the years.

What is the registration office for Vembuli Amman Kovil Street?

The registration office for Vembuli Amman Kovil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is charged at 2% of the same. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,16,800.

What is the land classification for Vembuli Amman Kovil Street?

Vembuli Amman Kovil Street is classified under Residential Class V Type - III land classification.