Guideline Value for Vembuli Bhavanandhiar Street Extn

Vembuli Bhavanandhiar Street Extn guideline value

The current guideline value of Vembuli Bhavanandhiar Street Extn is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vembuli Bhavanandhiar Street Extn has changed

Over the years, the guideline value for Vembuli Bhavanandhiar Street Extn has seen several revisions. The 2012 revision set the value at Rs 1,300 per sq.ft, which was then reduced to Rs 871 per sq.ft in 2017. However, the value increased significantly to Rs 1,300 per sq.ft in the 2023 revision, and now stands at Rs 1,400 per sq.ft from the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 8%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Vembuli Bhavanandhiar Street Extn's 2024 figure is below that median.

• Vembuli Nagar: Rs 1,400 per sq.ft (2024)
• Vembuli Nagar 1st Street: Rs 1,400 per sq.ft (2024)
• Vembuli Nagar 2nd Street: Rs 1,400 per sq.ft (2024)
• Vembuli Nagar Main Road: Rs 1,400 per sq.ft (2024)
• Velachery Main Road: Rs 4,300 per sq.ft (2024)
• Veeramamunivar Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Bhavanandhiar Street Extn

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, totaling Rs 1,26,000. It is important to note that the 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 Bhavanandhiar Street Extn?

The Sub Registrar Office covering Vembuli Bhavanandhiar Street Extn is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a legally recognized value.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vembuli Bhavanandhiar Street Extn?

The current guideline value of Vembuli Bhavanandhiar Street Extn is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024, which is an 8% increase. It was Rs 871 per sq.ft in 2017 and Rs 1,300 per sq.ft in 2012.

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

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this street?

The Selaiyur Sub Registrar Office covers Vembuli Bhavanandhiar Street Extn. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Vembuli Bhavanandhiar Street Extn?

The land classification for Vembuli Bhavanandhiar Street Extn is Residential Class II Type - II. This classification indicates the type of development allowed in the area.