Guideline Value for Vembuliamman Koil 6th Street

Vembuliamman Koil 6th Street guideline value

The current guideline value of Vembuliamman Koil 6th 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 6th Street has changed

The guideline value for Vembuliamman Koil 6th 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 significantly to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the value saw a substantial increase of 49% from 2017 to 2023. Overall, the guideline value has increased by 10% from the 2012 revision to the current 2024 revision.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 840 to Rs 3,750 per sq.ft. The median value across these streets is Rs 2,200 per sq.ft, which matches the guideline value of Vembuliamman Koil 6th 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 5th 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 6th 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, totaling 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vembuliamman Koil 6th Street?

The Sub Registrar Office that covers Vembuliamman Koil 6th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite 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 when registering property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the value reflects the current market conditions.

When selling or buying property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations during the transaction process.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil 6th Street?

The current guideline value of Vembuliamman Koil 6th 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 several times, starting from Rs 2,000 per sq.ft in 2012, decreasing to Rs 1,340 per sq.ft in 2017, then increasing to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,200 per sq.ft in 2024.

What is the land classification for Vembuliamman Koil 6th Street?

Vembuliamman Koil 6th Street is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Vembuliamman Koil 6th Street?

The Sub Registrar Office for Vembuliamman Koil 6th Street is located at No.36, Bharathmatha Salai, 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, on a property with a guideline value of Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.