Guideline Value for Vengal Thottam 6th Street

Vengal Thottam 6th Street guideline value

The current guideline value of Vengal Thottam 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vengal Thottam 6th Street has changed

The guideline value for Vengal Thottam 6th Street has seen several revisions over the years. In 2002, the rate was Rs 286 per sq.ft, which increased to Rs 312 per sq.ft in 2003. The value saw a significant jump to Rs 700 per sq.ft in 2007, followed by a rise to Rs 2,500 per sq.ft in 2012. However, it dropped to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,700 per sq.ft.

Between the revisions, there have been notable changes. From 2023 to 2024, the guideline value increased by 8%. The period from 2017 to 2023 saw a substantial increase of 49%. The 2012 to 2017 period experienced a decrease of 33%. The value surged by 257% from 2007 to 2012, and from 2003 to 2007, it increased by 124%. Overall, from 2002 to 2024, the guideline value has increased by 844%. There are no figures available for the revisions in years not listed.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that have a guideline value for 2024, 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, making the 2024 guideline value for Vengal Thottam 6th Street below this median.

• Vengal Thottam 5th Street: Rs 2,700 per sq.ft (2024)
• Vengal Thottam 4th 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 6th 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 be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the 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 Vengal Thottam 6th Street?

The Sub Registrar Office that covers Vengal Thottam 6th 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 during the registration of property transactions in Peravallur. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must pay these fees based on the higher value between the guideline value and the sale price, which is essential for completing the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vengal Thottam 6th Street?

The current guideline value of Vengal Thottam 6th 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 286 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 844% over the years.

What is the land classification for Vengal Thottam 6th Street?

The land classification for Vengal Thottam 6th Street is Residential Class I Type - I.

Which Sub Registrar Office is responsible for Vengal Thottam 6th Street?

The Sembiam Sub Registrar Office is responsible for Vengal Thottam 6th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 2,43,000.