Guideline Value for Vembuliamman Koil Extension

Vembuliamman Koil Extension guideline value

The current guideline value of Vembuliamman Koil Extension is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Palavanthangal village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Vembuliamman Koil Extension has changed

The guideline value for Vembuliamman Koil Extension has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with the median value being Rs 3,900 per sq.ft. The guideline value for Vembuliamman Koil Extension aligns with this median.

• Vempuli Amman Koil Street: Rs 3,900 per sq.ft (2024)
• Venkatachalam Street: Rs 3,900 per sq.ft (2024)
• Veerama Munivar Street: Rs 3,900 per sq.ft (2024)
• Thurairaj Sreet: Rs 4,400 per sq.ft (2024)
• Thurairaj Lane: Rs 3,300 per sq.ft (2024)
• West Side Nehru Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vembuliamman Koil Extension?

The Sub Registrar Office that covers Vembuliamman Koil Extension is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Palavanthangal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these fees reflect the official valuation of the property.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil Extension?

The current guideline value of Vembuliamman Koil Extension is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What is the land classification for Vembuliamman Koil Extension?

Vembuliamman Koil Extension is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Alandur Sub Registrar Office?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Vembuliamman Koil Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 39,00,000, leading to a stamp duty of Rs 2,73,000.