Guideline Value for Vempuli Amman Koil Street

Vempuli Amman Koil Street guideline value

The current guideline value of Vempuli Amman Koil Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Vempuli Amman Koil Street has changed

The guideline value for Vempuli Amman Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,350 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017. The value then rose again to Rs 3,500 per sq.ft in 2023, and the most recent 2024 revision established the current rate at Rs 3,900 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 11%. The overall change from the 2007 revision to the 2024 revision represents a substantial increase of 189%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is the same as the guideline value for Vempuli Amman Koil Street.

• Vembuliamman Koil Extension: Rs 3,900 per sq.ft (2024)
• Venkatachalam Street: Rs 3,900 per sq.ft (2024)
• Veerama Munivar Street: Rs 3,900 per sq.ft (2024)
• Thurairaj Sreet: Rs 4,400 per sq.ft (2024)
• Thurairaj Lane: Rs 3,300 per sq.ft (2024)
• West Side Nehru Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vempuli Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vempuli Amman Koil Street?

The Sub Registrar Office that covers Vempuli Amman Koil Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process when buying or selling property in Palavanthangal. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the authorities. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vempuli Amman Koil Street?

The current guideline value of Vempuli Amman Koil Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 1,350 per sq.ft in 2007, increasing to Rs 3,500 in 2012, then decreasing to Rs 2,345 in 2017, and rising again to Rs 3,500 in 2023, before reaching the current value of Rs 3,900 in 2024.

What is the registration office for Vempuli Amman Koil Street?

The registration office for Vempuli Amman Koil Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Vempuli Amman Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 39,00,000, leading to a stamp duty of Rs 2,73,000.

What other streets have the same guideline value in Palavanthangal?

Other streets in Palavanthangal that share the same guideline value of Rs 3,900 per sq.ft include Vembuliamman Koil Extension, Venkatachalam Street, and Veerama Munivar Street.