Guideline Value for Vembuliamman Koil Street

Vembuliamman Koil Street guideline value

The current guideline value of Vembuliamman Koil Street is Rs 1,980 per sq.ft. This street is located in Thiruvancheri village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vembuliamman Koil Street has changed

The guideline value for Vembuliamman Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, this value dropped to Rs 1,206 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, reflecting a 24% increase, and is set to rise again to Rs 1,980 per sq.ft in the upcoming 2024 revision, which is a 32% increase.

It is important to note that the register has no figures for Vembuliamman Koil Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 890%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 1,980 per sq.ft, which is the same as the current value for Vembuliamman Koil Street.

• Veerama Munivar Street: Rs 1,980 per sq.ft (2024)
• Venugopal Pillai Street: Rs 1,980 per sq.ft (2024)
• Vetri Nagar: Rs 3,850 per sq.ft (2024)
• Vaijayanthi Mala Bali Street: Rs 1,980 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,980 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. 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 Street?

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

The guideline value is a crucial factor in the registration of property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value in accordance with government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of ownership. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil Street?

The current guideline value of Vembuliamman Koil Street is Rs 1,980 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 200 per sq.ft in 2007, rising to Rs 1,800 per sq.ft in 2012, then dropping to Rs 1,206 per sq.ft in 2017, and increasing to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 sets it at Rs 1,980 per sq.ft.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft property, the total fees would amount to Rs 1,78,200.

Which office handles the registration for Vembuliamman Koil Street?

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

What is the land classification for Vembuliamman Koil Street?

Vembuliamman Koil Street is classified as Residential Class I Type - I, which indicates its designation for residential use within the area.