Guideline Value for Vembuliamman Koil 7th Street

Vembuliamman Koil 7th Street guideline value

The current guideline value of Vembuliamman Koil 7th 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 7th Street has changed

The guideline value for Vembuliamman Koil 7th Street has seen significant changes over the years. In 2003, the guideline value was Rs 297 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a 102% rise. The value then jumped dramatically to Rs 3,500 per sq.ft in 2012, reflecting a substantial increase of 483%.

Following the 2012 revision, the guideline value rose to Rs 3,750 per sq.ft in 2023, a 7% increase. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is a 3% increase from the previous year. It is important to note that there are no figures for this street for the years 2002 and 2017.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Vembuliamman Koil 7th Street's value above this median.

• Vembuliamman Koil 6th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 8th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 5th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 4th Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 3rd Street: Rs 3,850 per sq.ft (2024)
• Vembuliamman Koil 2nd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil 7th 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, while the registration fee at 2% would be Rs 77,000, bringing the total fees to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vembuliamman Koil 7th Street?

The Vembuliamman Koil 7th Street falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it influences the overall costs associated with the transaction. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which can affect the total amount payable during registration.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil 7th Street?

The current guideline value of Vembuliamman Koil 7th 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 increased from Rs 297 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 1196% over this period.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Vembuliamman Koil 7th Street?

The Pallavaram Sub Registrar Office covers Vembuliamman Koil 7th Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Vembuliamman Koil 7th Street?

The land classification for Vembuliamman Koil 7th Street is Mixed Type - I.