Guideline Value for VEMBULI STREET

Vembuli Street guideline value

The current guideline value of Vembuli Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vembuli Street has changed

The guideline value for Vembuli Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 1,000 per sq.ft in the 2023 revision, reflecting an increase of 49%. The most recent revision in 2024 has raised the guideline value to Rs 1,100 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Vembuli Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, indicating that Vembuli Street's 2024 figure is below the median.

• VENDRASI AMMAN KOIL 1st CROSS STREEET: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Streeet: Rs 1,100 per sq.ft (2024)
• Vendrasi Amman Koil Streeet Extension: Rs 1,100 per sq.ft (2024)
• Velu Street: Rs 1,100 per sq.ft (2024)
• Veerapandia Kattabomman Street: Rs 2,200 per sq.ft (2024)
• Vethapuri Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. 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 Street?

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

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor when registering property in Karapakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These costs are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for Vembuli Street?

The current guideline value for Vembuli 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 for Vembuli Street 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 median guideline value in Karapakkam?

The median guideline value for streets in Karapakkam is Rs 1,700 per sq.ft, which means Vembuli Street's current value is below this median.

What are the stamp duty rates applicable for property in Vembuli Street?

The stamp duty for property in Vembuli Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.