Guideline Value for Vembuli Amman Koil Street

Vembuli Amman Koil Street guideline value

The current guideline value of Vembuli Amman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Vembuli Amman Koil Street has changed

The guideline value for Vembuli Amman Koil Street has seen significant changes over the years. In 2003, the value was Rs 238 per sq.ft, which increased to Rs 350 per sq.ft in 2007, marking a 47% rise. The 2017 revision saw a substantial jump to Rs 1,340 per sq.ft, reflecting an increase of 283%. By 2023, the value reached Rs 2,000 per sq.ft, a 49% increase from the previous revision. The current value of Rs 2,200 per sq.ft, effective from July 2024, represents a 10% increase from 2023.

There are no figures available for the years 2002 and 2012 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 824%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, placing Vembuli Amman Koil Street's current rate below this median.

• Vembuliamman Koil 4th Cross Street: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil 3rd Cross Street: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil 2nd Cross Street: Rs 1,980 per sq.ft (2024)
• Vembuliamman Koil 1st Cross Street: Rs 1,980 per sq.ft (2024)
• Venkataraman Street: Rs 2,420 per sq.ft (2024)
• Vellappar 3rd Cross Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vembuli Amman Koil Street?

The Pammal Sub Registrar Office covers Vembuli Amman Koil Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration process of property transactions in Thiruneermalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives due revenue from property transactions.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for determining the financial obligations related to the transaction, such as taxes and fees.

Frequently asked questions

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

The current guideline value of Vembuli Amman Koil Street is Rs 2,200 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 238 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, with several revisions in between showing substantial increases.

What are the other streets in Thiruneermalai with their guideline values?

Other streets in Thiruneermalai include Vembuliamman Koil 4th Cross Street, Vembuliamman Koil 3rd Cross Street, Vembuliamman Koil 2nd Cross Street, Vembuliamman Koil 1st Cross Street, Venkataraman Street, and Vellappar 3rd Cross Street, each with their respective guideline values listed.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 1,98,000 in fees.

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

The Sub Registrar Office for Vembuli Amman Koil Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details online.