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 Potheri 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 undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and most recently, it rose to Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value across these streets is Rs 770 per sq.ft, which is the same as the current value for Vembuliamman Koil Street.

• 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)
• Varsha Avenue (Po): Rs 880 per sq.ft (2024)
• Vgp Mount Mary Town (Ward -1): Rs 1,100 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 guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, resulting in a total of Rs 69,300. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, 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 additional assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Potheri. When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the current guideline values, as these figures directly influence the costs associated with property registration. Understanding the guideline value can help in making informed decisions during the buying or selling process.

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 from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the median guideline value for streets in Potheri?

The median guideline value for streets in Potheri is Rs 770 per sq.ft, which is the same as the current value for Vembuliamman Koil Street.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles property registrations for Vembuliamman Koil Street (Ward -1)?

The Chengleput Joint II Sub Registrar Office handles property registrations for Vembuliamman Koil Street (Ward -1), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.