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 Thailavaram 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

Over the years, the guideline value of Vembuliamman Koil Street has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the guideline value increased to Rs 700 per sq.ft in the 2023 revision, and finally reached Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023 and decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thailavaram

In Thailavaram village, there are 132 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, which is equal to the guideline value of Vembuliamman Koil Street (Ward -1). Below are the guideline values for other streets in Thailavaram:

• Velan Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Veerapthra Nagar (Ward-21): Rs 770 per sq.ft (2024)
• Venkateswara Nagar (Val): Rs 881 per sq.ft (2024)
• Vedhathiri Nagar (Val): Rs 881 per sq.ft (2024)
• Varsha Avenue (Po): Rs 881 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 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, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and 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 more information.

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

The guideline value plays a crucial role when buying or selling property in Thailavaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property registration process. Buyers should be aware that the guideline value is used to determine the minimum value for which a property can be registered.

When a property is sold, the guideline value ensures that all transactions are recorded at a fair value, preventing undervaluation. It is essential for both buyers and sellers to understand the guideline value to ensure compliance with legal requirements during the registration 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 land classification for Vembuliamman Koil Street?

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

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, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Thailavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 7,70,000, the stamp duty at 7% would be Rs 53,900.