Guideline Value for Vempuliyamman Koil Street

Vempuliyamman Koil Street guideline value

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

How the guideline value of Vempuliyamman Koil Street has changed

The guideline value for Vempuliyamman Koil Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, the value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The subsequent revisions saw a substantial increase, with the 2023 revision at Rs 3,000 per sq.ft, followed by a 10% increase to the current rate of Rs 3,300 per sq.ft effective from 2024.

There are no available figures for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Nandhambakkam

Nandhambakkam village has a total of 76 streets under the Alandur SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value in the village is Rs 3,900 per sq.ft, placing Vempuliyamman Koil Street's 2024 figure below that median.

• Vasanthacolony: Rs 3,900 per sq.ft (2024)
• Triumph Squre: Rs 3,900 per sq.ft (2024)
• West Kulakkarai Street: Rs 3,900 per sq.ft (2024)
• West Mada Street: Rs 4,400 per sq.ft (2024)
• West Mada Veedhi: Rs 4,400 per sq.ft (2024)
• Thulasingapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vempuliyamman 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 amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vempuliyamman Koil Street?

The Sub Registrar Office covering Vempuliyamman 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 Nandhambakkam

The guideline value is a crucial factor during the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all transactions are in compliance with the regulations set by the Registration Department.

When a property is sold, the guideline value helps in establishing the minimum value at which the property can be registered. This prevents undervaluation and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vempuliyamman Koil Street?

The current guideline value of Vempuliyamman 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 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the other streets in Nandhambakkam and their guideline values?

Other streets in Nandhambakkam include Vasanthacolony, Triumph Squre, West Kulakkarai Street, West Mada Street, West Mada Veedhi, and Thulasingapuram, with values ranging from Rs 3,300 to Rs 4,400 per sq.ft.

What fees are associated with buying property in Vempuliyamman Koil Street?

When buying property, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 2,97,000.

Which office handles property registration for Vempuliyamman Koil Street?

The Alandur Sub Registrar Office handles property registration for Vempuliyamman Koil Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.