Guideline Value for Vengal Thottam 1st Street

Vengal Thottam 1st Street guideline value

The current guideline value of Vengal Thottam 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vengal Thottam 1st Street has changed

Over the years, the guideline value for Vengal Thottam 1st Street has experienced several revisions. The earliest recorded figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, a drop of 33%. Following this, the value rose sharply to Rs 2,500 per sq.ft in 2023, and then further to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase.

The guideline value register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 amounts to an increase of 286% in the guideline value.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, positioning Vengal Thottam 1st Street's 2024 figure below that median.

• Vengal Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 5th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 6th Street: Rs 2,700 per sq.ft (2024)
• Venkatesan Salai (Periyar Nagar): Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Vengal Thottam 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000 for these fees. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vengal Thottam 1st Street?

The Sub Registrar Office that covers Vengal Thottam 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This process is designed to maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vengal Thottam 1st Street?

The current guideline value of Vengal Thottam 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What are the stamp duty and registration fees for property in Vengal Thottam 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 27,00,000. The stamp duty at 7% is Rs 1,89,000, and the registration fee at 2% is Rs 54,000, resulting in a total of Rs 2,43,000 for these fees.

Which Sub Registrar Office covers Vengal Thottam 1st Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Vengal Thottam 1st Street.

What is the median guideline value in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, while Vengal Thottam 1st Street's 2024 figure is below this median at Rs 2,700 per sq.ft.