Guideline Value for Vengal Thottam 4th Street

Vengal Thottam 4th Street guideline value

The current guideline value of Vengal Thottam 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vengal Thottam 4th Street has changed

The guideline value for Vengal Thottam 4th Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft from the 2024 revision, marking an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 286%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

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 guideline value for these streets is Rs 3,301 per sq.ft, placing Vengal Thottam 4th Street's current value below this median.

• Vengal Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 5th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 2nd Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 6th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 1st 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. The duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Vengal Thottam 4th Street?

The Sub Registrar Office that covers Vengal Thottam 4th 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 critical factor in the registration process for property transactions 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 buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vengal Thottam 4th Street?

The current guideline value of Vengal Thottam 4th 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 undergone several revisions, increasing from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, which represents an overall increase of 286% from 2007 to 2024.

What is the median guideline value in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, which is above the current value of Vengal Thottam 4th Street.

What are the stamp duty and registration fees for property in Vengal Thottam 4th Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles registration in this area?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registration for Vengal Thottam 4th Street.