Guideline Value for COASTAL ROAD

Coastal Road guideline value

The current guideline value of Coastal Road in Thiruvanmiyur village, under the Chennai South Joint I SRO, is Rs 12,660 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Coastal Road has changed

The guideline value for Coastal Road has seen significant changes over the years. In 2002, the value was Rs 1,043 per sq.ft, which increased to Rs 1,154 per sq.ft in 2003, marking an 11% rise. The value continued to rise to Rs 3,018 per sq.ft in 2007, reflecting a substantial increase of 162%. Following this, the guideline value jumped to Rs 11,500 per sq.ft in 2012, a remarkable increase of 281% from the previous revision.

In 2017, the value decreased to Rs 7,705 per sq.ft, showing a decline of 33%. However, it rebounded to Rs 11,500 per sq.ft in 2023, and then further increased by 10% to the current value of Rs 12,660 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 1114%.

Guideline values in Thiruvanmiyur

Thiruvanmiyur has a total of 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value in this area is Rs 9,900 per sq.ft, placing Coastal Road's 2024 figure above this median.

• Co-Operative Housing Society (Court Official): Rs 7,150 per sq.ft (2024)
• Cholapuram Street: Rs 7,150 per sq.ft (2024)
• Chitrakulath Street: Rs 7,150 per sq.ft (2024)
• Devendra Nagar: Rs 7,150 per sq.ft (2024)
• Chellaperumal Street: Rs 7,150 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Coastal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value amounts to Rs 1,26,60,000. The stamp duty at 7% would be Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, resulting in a total of Rs 11,39,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Coastal Road?

The Coastal Road is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thiruvanmiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. The guideline value serves as a benchmark for property registration and helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Coastal Road?

The current guideline value of Coastal Road is Rs 12,660 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,043 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, reflecting an overall increase of 1114% over this period.

What is the land classification for Coastal Road?

The land classification for Coastal Road is Commercial Class I Type - I, indicating its designation for commercial use.

Where can I find the Chennai South Joint I SRO?

The Chennai South Joint I Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Coastal Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,26,60,000, the stamp duty would be Rs 8,86,200 at a rate of 7%.