Guideline Value for KOLAPERUMAL SCHOOL STREET

Kolaperumal School Street guideline value

The current guideline value of Kolaperumal School Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Mixed Type - II.

How the guideline value of Kolaperumal School Street has changed

The guideline value for Kolaperumal School Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, it then decreased to Rs 4,355 per sq.ft in 2017. The value rose again to Rs 6,500 per sq.ft in 2023 and reached the current figure of Rs 7,100 per sq.ft in 2024.

From 2017 to 2023, there was a 49% increase, followed by a 9% increase from 2023 to 2024. The overall increase from 2007 to 2024 is 373%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, making the 2024 guideline value for Kolaperumal School Street above this median.

• Krishnamurthy Street: Rs 3,300 per sq.ft (2024)
• Kavitha Street: Rs 4,400 per sq.ft (2024)
• Kulakarai Lane: Rs 3,300 per sq.ft (2024)
• Kulathankarai Street: Rs 3,300 per sq.ft (2024)
• Kannayiram Street: Rs 3,300 per sq.ft (2024)
• Kannappan Nagar: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kolaperumal School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolaperumal School Street?

The Sub Registrar Office that covers Kolaperumal School Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is compared with the actual sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Kolaperumal School Street?

The current guideline value of Kolaperumal School Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 373% over the years.

What is the land classification of Kolaperumal School Street?

The land classification for Kolaperumal School Street is Mixed Type - II.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Kolaperumal School Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,00,000, the stamp duty at 7% would be Rs 4,97,000.