Guideline Value for Vembuli Subethar Street

Vembuli Subethar Street guideline value

The current guideline value of Vembuli Subethar Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Alandur village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Vembuli Subethar Street has changed

The guideline value for Vembuli Subethar Street has seen significant changes over the years. In the 2002 revision, the value was Rs 490 per sq.ft, which increased to Rs 532 per sq.ft in 2003, marking a 9% increase. The value then rose to Rs 1,200 per sq.ft in 2007, a substantial increase of 126%. In 2012, the guideline value was Rs 4,000 per sq.ft, reflecting a decrease of 33% from the previous revision.

From 2012 to 2017, the value remained at Rs 4,000 per sq.ft and then increased to Rs 2,680 per sq.ft in the 2017 revision, representing a 49% increase. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft, and the current value of Rs 4,400 per sq.ft in 2024 is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 798%.

Guideline values in Alandur

Alandur village has 40 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 3,900 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 5,000 per sq.ft, making the current value of Vembuli Subethar Street below that median.

• Vempuli Amman Koil Street: Rs 5,000 per sq.ft (2024)
• Venu reddy Street: Rs 5,500 per sq.ft (2024)
• U.V. Samynathan Street: Rs 5,000 per sq.ft (2024)
• Yegambara dabether Street: Rs 5,000 per sq.ft (2024)
• Thadikkara Swamy Street: Rs 5,000 per sq.ft (2024)
• Subba Colony (Subba Reddy Colony): Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Subethar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vembuli Subethar Street?

The Sub Registrar Office that covers Vembuli Subethar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Alandur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall transaction costs. Buyers should ensure that they are informed of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vembuli Subethar Street?

The current guideline value of Vembuli Subethar Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 490 in 2002 to Rs 4,400 in 2024, marking an overall increase of 798% over the years.

What is the land classification of Vembuli Subethar Street?

Vembuli Subethar Street is classified as Residential Class I Type - III.

Where can I find the registration office for Vembuli Subethar Street?

The registration office for Vembuli Subethar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 3,96,000 in fees.