Guideline Value for Vembuliamman Koil 5th Street

Vembuliamman Koil 5th Street guideline value

The current guideline value of Vembuliamman Koil 5th 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 5th Street has changed

The guideline value for Vembuliamman Koil 5th 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 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,200 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Between the revisions, the changes are as follows: from 2017 to 2023, there was a significant increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

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. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Vembuliamman Koil 5th Street.

• 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 6th Street: Rs 2,200 per sq.ft (2024)
• Vembuliamman Koil 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil 5th 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, bringing the total to Rs 1,98,000. It is important to note that 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 information.

Which Sub Registrar Office covers Vembuliamman Koil 5th Street?

The Vembuliamman Koil 5th Street falls under 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 further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Gowrivakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when a property is registered. This ensures that the transaction is officially recorded and that the necessary taxes are collected by the government.

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

Frequently asked questions

What is the current guideline value of Vembuliamman Koil 5th Street?

The current guideline value of Vembuliamman Koil 5th 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 finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vembuliamman Koil 5th Street?

Vembuliamman Koil 5th Street is classified as Residential Special Type - I.

What are the other streets in Gowrivakkam with the same guideline value?

Other streets in Gowrivakkam with the same guideline value of Rs 2,200 per sq.ft include Vembuliamman Koil 1st, 2nd, 3rd, 4th, 6th, and 7th Streets.

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.