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 2,200 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village under the Selaiyur SRO, and it falls under the Residential Special Type - I land classification.

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

The guideline value for Vembuliamman Koil 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally, it reached Rs 2,200 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a 10% increase, indicating a stable progression in the guideline value over the years.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with the median value being Rs 2,200 per sq.ft. The guideline value for Vembuliamman Koil 1st Cross Street is equal to this median value.

• Vembuliamman Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 3rd Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 4th Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 5th Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 6th 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

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

The Vembuliamman Koil 1st Cross Street is covered by 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 Gowrivakkam

The guideline value is a crucial factor in property transactions in Gowrivakkam, as it determines the minimum value on which stamp duty and registration fees are calculated. When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

Additionally, the guideline value helps maintain transparency in the real estate market by providing a standardized value for properties in different areas. This ensures that both buyers and sellers have a clear understanding of the property’s worth during transactions.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vembuliamman Koil 1st Cross Street?

Vembuliamman Koil 1st Cross Street is classified as Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.