Guideline Value for Vembuli Amman Koil 2nd Lane

Vembuli Amman Koil 2nd Lane guideline value

The current guideline value of Vembuli Amman Koil 2nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village, under the Alandur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Vembuli Amman Koil 2nd Lane has changed

The guideline value for Vembuli Amman Koil 2nd Lane has seen several revisions over the years. The earliest recorded value was Rs 335 per sq.ft in 2002, which increased to Rs 381 per sq.ft in 2003, marking a 14% rise. Following this, the value surged to Rs 700 per sq.ft in 2007, representing an 84% increase. In 2012, the value was set at Rs 3,000 per sq.ft, a significant jump of 329% from the previous revision. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and in the latest revision for 2024, it has increased to Rs 3,300 per sq.ft, reflecting a 10% increase. Overall, from 2002 to 2024, the guideline value has risen by 885%. The register has no figures for the years not listed above.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Vembuli Amman Koil 2nd Lane's 2024 figure below this median.

• Vembuli Amman Koil 1st Lane: Rs 3,300 per sq.ft (2024)
• Veeraragavan (lane) Street: Rs 4,400 per sq.ft (2024)
• Veeramamunivar Street: Rs 2,800 per sq.ft (2024)
• Venugopalapuram: Rs 3,900 per sq.ft (2024)
• Vishwanathapuram: Rs 4,400 per sq.ft (2024)
• T N G O COLONY 7th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Amman Koil 2nd Lane

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, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vembuli Amman Koil 2nd Lane?

The Sub Registrar Office that covers Vembuli Amman Koil 2nd Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nanganallur. It is used as a benchmark for determining the stamp duty and registration fees when a property is bought or sold. Buyers and sellers must be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

When registering a property, it is essential to provide the accurate guideline value to ensure compliance with local regulations. This value helps in assessing the legal and financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value for Vembuli Amman Koil 2nd Lane?

The current guideline value for Vembuli Amman Koil 2nd Lane 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 335 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 885% over this period.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office is responsible for Vembuli Amman Koil 2nd Lane?

The Alandur Sub Registrar Office is responsible for Vembuli Amman Koil 2nd Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value for streets in Nanganallur?

The median guideline value for streets in Nanganallur is Rs 3,900 per sq.ft, with Vembuli Amman Koil 2nd Lane's current value being below this median.