Guideline Value for Vembulilamman Koil Cross Street

Vembulilamman Koil Cross Street guideline value

The current guideline value of Vembulilamman Koil Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and falls under Residential Class IV Type - II land classification.

How the guideline value of Vembulilamman Koil Cross Street has changed

The guideline value for Vembulilamman Koil Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017. The value then rose significantly to Rs 2,000 per sq.ft in 2023 and further increased to the current rate of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 76%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Vembulilamman Koil Cross Street is below this median.

• Vembulilamman Koil Street: Rs 2,200 per sq.ft (2024)
• Venkatesapuram 1st Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 1st Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 2nd Cross Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 2nd Street: Rs 1,700 per sq.ft (2024)
• Venkatesapuram 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vembulilamman Koil Cross 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vembulilamman Koil Cross Street?

The Sub Registrar Office that covers Vembulilamman Koil Cross Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an important factor when registering property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers must be aware of the current guideline value to ensure they are compliant with local regulations.

Frequently asked questions

What is the current guideline value of Vembulilamman Koil Cross Street?

The current guideline value of Vembulilamman Koil Cross 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 1,250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 76% over the years.

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 Sub Registrar Office is responsible for Vembulilamman Koil Cross Street?

The Adayar Sub Registrar Office is responsible for Vembulilamman Koil Cross Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Vembulilamman Koil Cross Street?

Vembulilamman Koil Cross Street falls under Residential Class IV Type - II land classification.