Guideline Value for Vembuliamman Koil 2nd Street

Vembuliamman Koil 2nd Street guideline value

The current guideline value of Vembuliamman Koil 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Vembuliamman Koil 2nd Street has changed

The guideline value for Vembuliamman Koil 2nd Street has undergone several revisions over the years. The earliest recorded value was Rs 297 per sq.ft in 2003. This increased significantly to Rs 600 per sq.ft in 2007, marking a change of +102%. By 2012, the value rose to Rs 3,500 per sq.ft, a substantial increase of +483%. The next revision in 2023 set the value at Rs 3,750 per sq.ft, showing a +7% increase. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, reflecting a +3% change from the previous year.

There are no recorded figures for the years 2002 and 2017 for this street. Overall, the guideline value has increased by +1196% from Rs 297 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Vembuliamman Koil 2nd Street above this median.

• Vembuliamman Koil 2nd Back Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 3rd Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 1st Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 4th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 5th Street: Rs 3,850 per sq.ft (2024)
• Velu Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. 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 2nd Street?

The Sub Registrar Office that covers Vembuliamman Koil 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is a crucial factor during property transactions in Zaminpallavaram. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil 2nd Street?

The current guideline value of Vembuliamman Koil 2nd 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 significantly from Rs 297 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +1196%.

What is the stamp duty for properties in Vembuliamman Koil 2nd Street?

The stamp duty for properties in Vembuliamman Koil 2nd Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for this street?

The Pallavaram Sub Registrar Office handles property registrations for Vembuliamman Koil 2nd Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, with Vembuliamman Koil 2nd Street being above this median at Rs 3,850 per sq.ft.