Guideline Value for VEMBULIAMMAN KOIL STREET

Vembuliamman Koil Street guideline value

The current guideline value of Vembuliamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vembuliamman Koil Street has changed

The guideline value for Vembuliamman Koil Street has seen several revisions over the years. In 2002, the value was Rs 168 per sq.ft, which increased to Rs 190 per sq.ft in 2003, marking a 13% rise. The value further increased significantly to Rs 600 per sq.ft in 2007, representing a 216% change. By 2012, the value was Rs 3,000 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1864%. The register has no figure for Vembuliamman Koil Street for the years not mentioned in the revisions above.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Vembuliamman Koil Street.

• Veeravanjinathan Nagar Main Road: Rs 3,300 per sq.ft (2024)
• Veeravanjinathan Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinatha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Veeravanjinatha Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Veerapandia Kattapomman Street: Rs 3,300 per sq.ft (2024)
• Veerapandia Kattapomman 2nd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vembuliamman Koil Street?

The Sub Registrar Office that covers Vembuliamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungudi, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

This ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to accurately assess the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil Street?

The current guideline value of Vembuliamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 168 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1864% over this period.

What are the stamp duty and registration fees for property in Vembuliamman Koil Street?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Vembuliamman Koil Street?

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

How is the guideline value determined for properties in Perungudi?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It is used to assess the minimum value for property transactions in the area.