Guideline Value for Vembulilamman Koil Street

Vembulilamman Koil Street guideline value

The current guideline value of Vembulilamman Koil 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 is classified as Residential Class IV Type - II.

How the guideline value of Vembulilamman Koil Street has changed

The guideline value for Vembulilamman Koil Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,250 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 60%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, reflecting a drop of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and finally, it reached Rs 2,200 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 76%. It is important to note that the guideline value 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 guideline value for 2024, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, which means that Vembulilamman Koil Street's current value of Rs 2,200 per sq.ft is below this median.

• Vembulilamman Koil Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total fees to 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.

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

Which Sub Registrar Office covers Vembulilamman Koil Street?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vembulilamman Koil Street?

The current guideline value of Vembulilamman 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 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 is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, which is higher than the current guideline value of Vembulilamman Koil Street.

What are the stamp duty and registration fees for property in Vembulilamman Koil Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Vembulilamman Koil Street?

The Adayar Sub Registrar Office handles the registration for Vembulilamman Koil Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.