Guideline Value for VEMBULIAMMAN KOIL STREET (WARD -1)

Vembuliamman Koil Street (Ward -1) guideline value

The current guideline value of Vembuliamman Koil Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vembuliamman Koil Street (Ward -1) has changed

The guideline value for Vembuliamman Koil Street has seen several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 700 per sq.ft. This value remained the same until the 2017 revision, where it decreased to Rs 469 per sq.ft, marking a reduction of 33%. In the following years, the value increased significantly; by the 2023 revision, it was Rs 700 per sq.ft, and then it rose again to Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 700 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for Vembuliamman Koil Street for the years 2002, 2003, and 2007.

Guideline values in Konathi

In Konathi, there are 131 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Vembuliamman Koil Street (Ward -1).

• Velan Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Veerapthra Nagar (Ward-21): Rs 770 per sq.ft (2024)
• Venkateswara Nagar (Val): Rs 880 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 880 per sq.ft (2024)
• Vetrivelan Nagar: Rs 1,980 per sq.ft (2024)
• Varsha Avenue (Po): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil Street (Ward -1)

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the stamp 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 Vembuliamman Koil Street (Ward -1)?

The Sub Registrar Office that covers Vembuliamman Koil Street (Ward -1) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property transactions in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property. The value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government collects appropriate taxes on property transactions, helping maintain transparency in the real estate sector.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil Street (Ward -1)?

The current guideline value of Vembuliamman Koil Street (Ward -1) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the 2012 revision at Rs 700 per sq.ft, dropping to Rs 469 per sq.ft in 2017, then rising back to Rs 700 per sq.ft in 2023, and finally reaching Rs 770 per sq.ft in 2024.

What is the land classification for Vembuliamman Koil Street?

The land classification for Vembuliamman Koil Street (Ward -1) is Residential Class I Type - III.

What are the other streets in Konathi with their guideline values?

Other streets in Konathi include Velan Nagar at Rs 660 per sq.ft, Veerapthra Nagar at Rs 770 per sq.ft, and Venkateswara Nagar at Rs 880 per sq.ft, among others.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.