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 Vallancheri village, under the Chengleput Joint II SRO, and is classified as 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 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 value increased significantly to Rs 700 per sq.ft in the 2023 revision, and finally, it rose to Rs 770 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 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 among these streets is Rs 825 per sq.ft, placing Vembuliamman Koil Street's 2024 figure below the median.

• 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 rate of Rs 770 per sq.ft, the 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, totaling Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vallancheri. It is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with the regulations set by the Registration Department.

When a property transaction occurs, the guideline value is referenced to assess the financial obligations of the buyer. This value ensures that the government receives appropriate revenue from property transactions, maintaining transparency in the real estate market.

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 of Vembuliamman Koil Street?

Vembuliamman Koil Street is classified as Residential Class I Type - III.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in this area is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vembuliamman Koil Street located?

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