Guideline Value for Vembuliamman Koil 1st Cross Street

Vembuliamman Koil 1st Cross Street guideline value

The current guideline value of Vembuliamman Koil 1st Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Vembuliamman Koil 1st Cross Street has changed

The guideline value for Vembuliamman Koil 1st Cross Street has undergone several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft, which was later increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent revision in 2024 has raised the guideline value to Rs 1,980 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from Rs 1,206 in 2017 to Rs 1,800 in 2023 represents a significant growth of 49% over that period.

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 guideline value for these streets is Rs 2,420 per sq.ft, which means that the guideline value for Vembuliamman Koil 1st Cross Street is below the median.

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

Stamp duty and registration fee for property in Vembuliamman Koil 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers Vembuliamman Koil 1st Cross Street?

The Vembuliamman Koil 1st Cross Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value is a crucial factor during property transactions in Thiruneermalai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the transaction's legality and financial obligations. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil 1st Cross Street?

The current guideline value of Vembuliamman Koil 1st Cross Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the median guideline value for streets in Thiruneermalai?

The median guideline value for the 316 streets in Thiruneermalai is Rs 2,420 per sq.ft, which indicates that Vembuliamman Koil 1st Cross Street's value is below this median.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Vembuliamman Koil 1st Cross Street?

The Pammal Sub Registrar Office handles registrations for Vembuliamman Koil 1st Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.