Guideline Value for Vembuli Amman Koil 1st Cross Street

Vembuli Amman Koil 1st Cross Street guideline value

The current guideline value of Vembuli Amman Koil 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Mixed Special Type - I.

How the guideline value of Vembuli Amman Koil 1st Cross Street has changed

The guideline value for Vembuli Amman Koil 1st Cross Street has seen several revisions over the years. In 2002, the value was Rs 555 per sq.ft, which increased to Rs 615 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 750 per sq.ft in 2007, an increase of +22%. Following that, the 2012 revision saw a substantial jump to Rs 7,000 per sq.ft, reflecting a change of +833%. However, between 2012 and 2017, the value decreased to Rs 4,690 per sq.ft, a decline of -33%. The value then increased to Rs 7,000 per sq.ft in 2023, and most recently, it rose to Rs 7,700 per sq.ft in 2024, representing a +10% increase.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by +1287%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Vembuli Amman Koil 1st Cross Street's 2024 guideline value is above this median.

• Vembuli Amman 1st New Cross Street: Rs 7,700 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 7,700 per sq.ft (2024)
• Vembuli Amman Koil Street (Gangaiamman Koil Street, S.No.158): Rs 7,700 per sq.ft (2024)
• Velan 4th Street: Rs 3,250 per sq.ft (2024)
• Velan 3rd Street: Rs 3,250 per sq.ft (2024)
• Velan 2nd Street: Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Amman Koil 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. It is important to note that 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 Vembuli Amman Koil 1st Cross Street?

The Sub Registrar Office that covers Vembuli Amman Koil 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is an important factor during the registration of property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This process ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Vembuli Amman Koil 1st Cross Street?

The current guideline value for Vembuli Amman Koil 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 555 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, showing an overall increase of +1287% over the years.

What is the land classification for Vembuli Amman Koil 1st Cross Street?

Vembuli Amman Koil 1st Cross Street is classified as Mixed Special Type - I.

Where can I find the Sub Registrar Office for this street?

The Virugambakkam Sub Registrar Office covers Vembuli Amman Koil 1st Cross Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 at a rate of 7%.