Guideline Value for Vengal Thottam 5th Street

Vengal Thottam 5th Street guideline value

The current guideline value of Vengal Thottam 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Vengal Thottam 5th Street has changed

The guideline value for Vengal Thottam 5th Street has undergone several revisions over the years. The 2007 revision set the value at Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft. The 2023 revision saw a substantial increase to Rs 2,500 per sq.ft, followed by the current 2024 revision, which raised it to Rs 2,700 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall change in the guideline value is an increase of 286%. The most significant change occurred between 2007 and 2012, where the value rose by 257%. From 2017 to 2023, there was a 49% increase, and the recent change from 2023 to 2024 is an 8% increase.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a guideline value for 2024, 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, indicating that Vengal Thottam 5th Street's current value is below this median.

• Vengal Thottam 4th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 6th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 3rd Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 2nd 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 5th 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vengal Thottam 5th Street?

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

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

The guideline value is an important factor when registering 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 the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is crucial to consider the guideline value, as it directly impacts the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Vengal Thottam 5th Street?

The current guideline value of Vengal Thottam 5th 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 other streets in Peravallur with the same guideline value?

Other streets in Peravallur with the same guideline value of Rs 2,700 per sq.ft in 2024 include Vengal Thottam 1st, 2nd, 3rd, 4th, and 6th Streets.

What is the registration fee for property in Vengal Thottam 5th Street?

The registration fee for property in Vengal Thottam 5th Street is calculated at 2% of the guideline value. For example, for a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Where is the Sub Registrar Office for Vengal Thottam 5th Street located?

The Sub Registrar Office for Vengal Thottam 5th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.