Guideline Value for VEMBULI NAICKER STREET

Vembuli Naicker Street guideline value

The current guideline value of Vembuli Naicker Street is Rs 1,660 per sq.ft. This street is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vembuli Naicker Street has changed

The guideline value for Vembuli Naicker Street has undergone several revisions over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 230 per sq.ft in 2003, marking a 15% rise. The value then saw a significant jump to Rs 500 per sq.ft in 2007, representing a 117% increase. Following this, the value surged to Rs 1,500 per sq.ft in 2012, reflecting a 200% increase from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 1,005 per sq.ft, a decrease of 33%. However, it rebounded to Rs 1,500 per sq.ft in 2023, before reaching the current value of Rs 1,660 per sq.ft in the 2024 revision, which is an 11% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 730%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value is Rs 1,660 per sq.ft, which is equal to the current value of Vembuli Naicker Street.

• Vembuli Nayackar 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Vembuli Nayackar 2nd Cross Street: Rs 1,660 per sq.ft (2024)
• Vellammal Palli Street: Rs 1,660 per sq.ft (2024)
• Vanagaram Seik Manyam: Rs 1,320 per sq.ft (2024)
• Valliyammal Nagar: Rs 1,100 per sq.ft (2024)
• Vallalar Nagar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Naicker Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would be Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, making the total cost for these fees Rs 1,49,400. 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 Naicker Street?

The Sub Registrar Office that covers Vembuli Naicker 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 Vanagaram

When buying or selling property in Vanagaram, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used to calculate these fees, ensuring that they are based on an official valuation of the property.

During the registration process, the buyer and seller must consider the guideline value as it may influence the total cost of the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Vembuli Naicker Street?

The current guideline value of Vembuli Naicker Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2002 to Rs 1,660 per sq.ft in 2024, reflecting an overall increase of 730% over this period.

What is the land classification of Vembuli Naicker Street?

Vembuli Naicker Street is classified as Residential Class III Type - I.

Where can I find the registration office for Vembuli Naicker Street?

The registration office for Vembuli Naicker 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.

How is the stamp duty calculated for property in Vembuli Naicker Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,60,000, the stamp duty at 7% would be Rs 1,16,200.