Guideline Value for Vembuliamman Koil 7th Street

Vembuliamman Koil 7th Street guideline value

The current guideline value of Vembuliamman Koil 7th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vembuliamman Koil 7th Street has changed

The guideline value for Vembuliamman Koil 7th Street has seen 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 2024 revision has raised it to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 reflects a 10% increase, indicating a stable guideline value over the years.

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 among these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Vembuliamman Koil 7th 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 6th Street: Rs 2,200 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 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, bringing the total to 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vembuliamman Koil 7th Street?

The Sub Registrar Office that covers Vembuliamman Koil 7th 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

The guideline value is a crucial factor when registering property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring transparency in real estate transactions.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct amount of revenue based on the property's value.

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 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 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, the value rose significantly by 49% from Rs 1,340 per sq.ft.

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

The land classification for Vembuliamman Koil 7th Street is Residential Special Type - I, indicating its designation for residential purposes.

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

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Vembuliamman Koil 7th Street?

The Selaiyur Sub Registrar Office handles registrations for Vembuliamman Koil 7th Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.