Guideline Value for VEMBULI AMMAN STREET

Vembuli Amman Street guideline value

The current guideline value of Vembuli Amman Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madurabakkam village, under the Selaiyur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vembuli Amman Street has changed

The guideline value for Vembuli Amman Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the most significant change occurred from 2017 to 2023, where there was a 49% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register for the years 2002, 2003, and 2007 has no figures for this street.

Guideline values in Madurabakkam

In Madurabakkam, there are 23 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median value of Rs 1,600 per sq.ft. Vembuli Amman Street's 2024 figure is below this median.

• Vedhagiri Nagar: Rs 2,200 per sq.ft (2024)
• V.G.P.Babu Nagar: Rs 1,100 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,100 per sq.ft (2024)
• Silver Crest: Rs 1,700 per sq.ft (2024)
• Shankar Nagar: Rs 1,300 per sq.ft (2024)
• Sarojini Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Amman Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the 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, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vembuli Amman Street?

The Sub Registrar Office that covers Vembuli Amman Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Madurabakkam

The guideline value is a crucial factor during the registration of property transactions in Madurabakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should consider this value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Vembuli Amman Street?

The current guideline value of Vembuli Amman 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 from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Vembuli Amman Street?

The land classification for Vembuli Amman Street is Residential Class III Type - I.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Vembuli Amman Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.