Guideline Value for Vembuliamman Koil Street

Vembuliamman Koil Street guideline value

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

How the guideline value of Vembuliamman Koil Street has changed

The guideline value for Vembuliamman Koil Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The latest revision in 2024 further increased the value to Rs 2,200 per sq.ft, marking a 10% rise from the previous year. The overall change from 2017 to 2024 is a significant increase of 64%.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, highlighting a consistent rise in the guideline value over the years.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Vembuliamman Koil Street.

• Venkateswara Nagar: Rs 2,750 per sq.ft (2024)
• VGN LakshmiNagar: Rs 2,200 per sq.ft (2024)
• Vgn Orville: Rs 3,285 per sq.ft (2024)
• Vgn Orvillee Extension-I: Rs 4,600 per sq.ft (2024)
• Vgn Orville Extension II: Rs 4,600 per sq.ft (2024)
• Vanniar Street: 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the stamp duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolapakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vembuliamman Koil Street?

The current guideline value of Vembuliamman Koil 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 64% over this period.

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 would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Kolapakkam?

The Pammal Sub Registrar Office handles property registrations for Vembuliamman Koil Street and other areas in Kolapakkam.

Are there other streets in Kolapakkam with different guideline values?

Yes, there are several other streets in Kolapakkam with varying guideline values, ranging from Rs 1,650 to Rs 6,850 per sq.ft.