Guideline Value for Vengambakkam Main Road

Vengambakkam Main Road guideline value

The current guideline value of Vengambakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Vengambakkam Main Road has changed

The guideline value for Vengambakkam Main Road has undergone several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 3,000 per sq.ft. This figure remained the same in the subsequent revision in 2017, but then saw a significant decrease of 33%, dropping to Rs 2,010 per sq.ft. In the following years, the value increased substantially, reaching Rs 3,000 per sq.ft in 2023, marking a 49% increase from the 2017 figure. The latest revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Vengambakkam Main Road's 2024 figure above this median.

• Vinayagar Koil First Cross Street: Rs 440 per sq.ft (2024)
• Vinayagar Koil Second Cross Street: Rs 440 per sq.ft (2024)
• Vinayagar Koil Street: Rs 440 per sq.ft (2024)
• Sudhanandha Bharathi 3rd Street: Rs 550 per sq.ft (2024)
• Sudhanandha Bharathi 2nd Street: Rs 550 per sq.ft (2024)
• Sudhanandha Bharathi 1st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vengambakkam Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees would total Rs 2,97,000. 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 Vengambakkam Main Road?

The Vengambakkam Main Road is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kaspapuram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is set by the Registration Department and can vary from street to street.

When purchasing property, the guideline value ensures that the transaction is recorded accurately, reflecting the property's worth as determined by the government. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vengambakkam Main Road?

The current guideline value of Vengambakkam Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent revision in 2024 showing an increase to Rs 3,300 per sq.ft from Rs 3,000 per sq.ft in 2023, a 10% increase. The value has also seen an increase of 49% from Rs 2,010 per sq.ft in 2017 to 2023.

What are the stamp duty and registration fees for a property on Vengambakkam Main Road?

For a 1,000 sq.ft property at the current guideline value, the total guideline value would be Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Vengambakkam Main Road?

The registrations for Vengambakkam Main Road are handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Vengambakkam Main Road?

The land classification for Vengambakkam Main Road is Commercial Class I Type - II, indicating its suitability for commercial activities.