Guideline Value for Vembuli Amman Koil Street

Vembuli Amman Koil Street guideline value

The current guideline value of Vembuli Amman Koil 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 Street has changed

The guideline value for Vembuli Amman Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 600 per sq.ft, which increased to Rs 665 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 6,527 per sq.ft in 2007, reflecting an increase of 882%. In 2012, it was revised to Rs 7,000 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision saw a further increase to Rs 4,690 per sq.ft, and then it jumped to Rs 7,000 per sq.ft in 2023, before reaching the current value of Rs 7,700 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 1183%. The register has no figures for the years not mentioned above.

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. The median value is Rs 4,400 per sq.ft, positioning Vembuli Amman Koil Street's 2024 figure 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

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, totaling Rs 6,93,000. 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 details.

Which Sub Registrar Office covers Vembuli Amman Koil Street?

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 critical factor during property registration in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and transparently.

When engaging in a property transaction, it is essential to be aware of the current guideline value, as it directly impacts the costs associated with the registration process. Buyers and sellers should consult the latest figures to understand their financial obligations better.

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 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting a total increase of 1183% over the years.

What is the land classification for Vembuli Amman Koil Street?

Vembuli Amman Koil Street is classified as Mixed Special Type - I, according to the local land classification regulations.

What are the stamp duty and registration fees for a property in Vembuli Amman Koil Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where is the Sub Registrar Office for Vembuli Amman Koil Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.