Guideline Value for Koil Street 1st Lane

Koil Street 1st Lane guideline value

The current guideline value of Koil Street 1st Lane is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Koil Street 1st Lane has changed

The guideline value for Koil Street 1st Lane has undergone several revisions over the years. In 2002, the value was Rs 325 per sq.ft, which increased to Rs 354 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 700 per sq.ft in 2007, and then it increased dramatically to Rs 2,500 per sq.ft in 2012. However, there was a notable decrease to Rs 1,675 per sq.ft in 2017. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current rate of Rs 2,700 per sq.ft in 2024.

The changes between the revisions highlight a +9% increase from 2002 to 2003, a +98% increase from 2003 to 2007, a +257% increase from 2007 to 2012, a -33% decrease from 2012 to 2017, a +49% increase from 2017 to 2023, and finally, an +8% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +731%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value of Koil Street 1st Lane is below this median.

• Koil Street: Rs 3,301 per sq.ft (2024)
• Kolathur Road: Rs 4,200 per sq.ft (2024)
• Krishnamurthy Street: Rs 3,301 per sq.ft (2024)
• Krishnamurthy Street @ Bashyam 3rd Street: Rs 3,301 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Koil Street 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to 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.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Koil Street 1st Lane?

The Sub Registrar Office that covers Koil Street 1st Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is an essential factor when registering a property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs involved in the transaction. It is crucial for buyers and sellers to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Koil Street 1st Lane?

The current guideline value of Koil Street 1st Lane 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 seen several revisions, increasing from Rs 325 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, with notable changes in between.

What is the stamp duty rate for properties in Koil Street 1st Lane?

The stamp duty rate for properties in Koil Street 1st Lane is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for properties in Peravallur?

The guideline value for properties in Peravallur is determined by the Registration Department's guideline value register, which is periodically revised based on various factors.