Guideline Value for Vengadachalam Street

Vengadachalam Street guideline value

The current guideline value of Vengadachalam Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Vengadachalam Street has changed

The guideline value for Vengadachalam Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 800 per sq.ft. In 2017, the value decreased to Rs 536 per sq.ft, marking a decline of 33%. However, by 2023, the guideline value increased significantly to Rs 800 per sq.ft, and the latest revision in 2024 has set it at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007. The overall change from the 2012 figure to the 2024 figure shows a slight increase of 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Vengadachalam Street's 2024 figure above this median.

• Venkataraman Street: Rs 880 per sq.ft (2024)
• Venkateswara Nagar: Rs 803 per sq.ft (2024)
• Venkatraman Street: Rs 880 per sq.ft (2024)
• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)
• Vasantham Nagar Surver No.388/1Pt,2: Rs 1,200 per sq.ft (2024)
• Veppangulam Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Vengadachalam Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vengadachalam Street?

The Sub Registrar Office that covers Vengadachalam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Kovilpathagai. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is considered alongside the sale price to calculate the applicable duties. This ensures that the transaction is recorded accurately and that all fees are paid based on the higher value.

Frequently asked questions

What is the current guideline value of Vengadachalam Street?

The current guideline value of Vengadachalam Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, which is a 10% rise. The value also decreased to Rs 536 per sq.ft in 2017 before increasing again in subsequent years.

What is the land classification for Vengadachalam Street?

Vengadachalam Street is classified as Residential Class II Type - I under the Ambattur SRO.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for Vengadachalam Street located?

The Sub Registrar Office for Vengadachalam Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.