Guideline Value for Vembuliamman Koil Street

Vembuliamman Koil Street guideline value

The current guideline value of Vembuliamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in 1. Nolambur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vembuliamman Koil Street has changed

Over the years, the guideline value for Vembuliamman Koil Street has seen several revisions. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase from Rs 3,000 per sq.ft in the 2023 revision. Prior to that, in 2017, the guideline value was Rs 2,010 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value increased by 49%, and from 2017 to 2024, it has risen by a total of 64%. The change from 2023 to 2024 reflects a 10% increase in the guideline value.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 7,100 per sq.ft, placing Vembuliamman Koil Street's 2024 figure below that median.

• Vellalar Street: Rs 5,500 per sq.ft (2024)
• V.G.N.Aster: Rs 7,100 per sq.ft (2024)
• V.G.N Avenue Phase IV: Rs 7,100 per sq.ft (2024)
• V.G.N Enclave: Rs 7,100 per sq.ft (2024)
• V.G.N Garden: Rs 7,100 per sq.ft (2024)
• V.G.N LA Parisienme: Rs 7,100 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty is calculated at 7%, amounting to Rs 2,31,000, and the registration fee is 2%, which is Rs 66,000. Therefore, the total cost for stamp duty and registration fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vembuliamman Koil Street?

The Sub Registrar Office that covers Vembuliamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is an important factor in property transactions in 1. Nolambur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area. This value is set by the government and is subject to periodic revisions based on various factors.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. Buyers and sellers 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the land classification for Vembuliamman Koil Street?

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

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Vembuliamman Koil Street located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.