Guideline Value for Vembuliamman Koil 1st Street

Vembuliamman Koil 1st Street guideline value

The current guideline value of Vembuliamman Koil 1st 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 is classified as Residential Special Type - I.

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

The guideline value for Vembuliamman Koil 1st Street has undergone 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 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The value then rose by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. Vembuliamman Koil 1st Street's current value aligns with this median.

• Vembuliamman Koil 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees together Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vembuliamman Koil 1st Street?

The Sub Registrar Office covering Vembuliamman Koil 1st Street 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 Gowrivakkam

When buying or selling property in Gowrivakkam, the guideline value plays a crucial role during the registration process. It is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

The guideline value ensures that the government receives appropriate revenue from property transactions. It is essential for buyers and sellers to be aware of the current guideline value to accurately assess the costs involved in the registration process.

Frequently asked questions

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

The current guideline value of Vembuliamman Koil 1st 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 increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification of Vembuliamman Koil 1st Street?

Vembuliamman Koil 1st 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 property transactions?

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