Guideline Value for Vembuli Subedhar Street

Vembuli Subedhar Street guideline value

The current guideline value of Vembuli Subedhar Street is Rs 3,850 per sq.ft. This street is located in Parangimalai village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vembuli Subedhar Street has changed

The guideline value for Vembuli Subedhar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 506 per sq.ft. This increased to Rs 632 per sq.ft in 2003, marking a 25% rise. By 2007, the value saw a significant jump to Rs 750 per sq.ft, which was a 19% increase. The 2012 revision brought the value to Rs 3,500 per sq.ft, representing a substantial increase of 367% from 2007. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a decline of 33% from the previous revision. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,850 per sq.ft, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 661%. The register has no figures for the years not explicitly mentioned in the revisions.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current value of Vembuli Subedhar Street.

• Vedagiri Street: Rs 3,850 per sq.ft (2024)
• V.G.P.Murthy Square: Rs 11,000 per sq.ft (2024)
• Valluvar Street (Kalaignar Nagar): Rs 3,300 per sq.ft (2024)
• Valluvar Street: Rs 3,300 per sq.ft (2024)
• Ussain Subedhar Street: Rs 3,850 per sq.ft (2024)
• Vishwanathapuram Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Subedhar Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vembuli Subedhar Street?

The Sub Registrar Office that covers Vembuli Subedhar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Parangimalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher value between the guideline value and the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Vembuli Subedhar Street?

The current guideline value of Vembuli Subedhar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 506 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 661% over this period.

What is the land classification of Vembuli Subedhar Street?

Vembuli Subedhar Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Vembuli Subedhar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Vembuli Subedhar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 at 7%.