Guideline Value for Vembuli Amman Koil Street (Gangaiamman Koil Street, S.no.158)

Vembuli Amman Koil Street (Gangaiamman Koil Street, S.No.158) guideline value

The current guideline value for Vembuli Amman Koil Street (Gangaiamman Koil Street, S.No.158) 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 Street (Gangaiamman Koil Street, S.No.158) has changed

The guideline value for Vembuli Amman Koil Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in the 2012 revision. However, this figure dropped to Rs 4,690 per sq.ft in the 2017 revision, marking a decrease of 33%. The 2023 revision brought the value back up to Rs 7,000 per sq.ft, and the latest revision in 2024 saw a further increase to Rs 7,700 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1440%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

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 Street's 2024 guideline value of Rs 7,700 per sq.ft is above this median.

• Vembuli Amman Koil Street: Rs 7,700 per sq.ft (2024)
• Vembuli Amman Koil 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Vembuli Amman 1st New Cross Street: 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 Street (Gangaiamman Koil Street, S.No.158)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be 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 Street (Gangaiamman Koil Street, S.No.158)?

The Sub Registrar Office that covers Vembuli Amman Koil 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during property registration.

When registering a property, the guideline value helps in assessing the financial implications of the transaction. It is essential for both parties to be aware of the guideline value to avoid any disputes regarding the fees that need to be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Vembuli Amman Koil Street?

The current guideline value of Vembuli Amman Koil Street (Gangaiamman Koil Street, S.No.158) 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 significantly from Rs 500 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 1440% over this period.

What are the other streets in Virugambakkam with similar guideline values?

Other streets in Virugambakkam with the same guideline value of Rs 7,700 per sq.ft for 2024 include Vembuli Amman Koil 1st Cross Street and Vembuli Amman 1st New Cross Street.

Where can I find the Sub Registrar Office for Vembuli Amman Koil Street?

The Sub Registrar Office covering Vembuli Amman Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Virugambakkam?

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