Guideline Value for Koil Street

Koil Street guideline value

The current guideline value of Koil Street in Ammayarkuppam village is Rs 260 per sq.ft, effective from 1 July 2024. This property falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class I Type - I.

How the guideline value of Koil Street has changed

The guideline value for Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 260 per sq.ft in 2012, marking a 160% rise. However, this value dropped to Rs 174 per sq.ft in 2017, reflecting a decrease of 33% from the previous revision.

From 2017 to 2023, the value increased by 49%, bringing it back to Rs 260 per sq.ft. The guideline value remained unchanged at Rs 260 per sq.ft from the 2023 revision to the 2024 revision, indicating a stable market for this street. The register has no figures for the years 2002 and 2003.

Guideline values in Ammayarkuppam

Ammayarkuppam village has a total of 43 streets under the Ramakrishna Rajupettai SRO, with guideline values ranging from Rs 150 to Rs 260 per sq.ft. The median guideline value for the village is Rs 260 per sq.ft, which is the same as Koil Street's current figure.

• K.P.N. Kandigai Arunthathi Colony: Rs 150 per sq.ft (2024)
• K.P.N. Kandigai Harijana Colony: Rs 150 per sq.ft (2024)
• Kulakarai St: Rs 260 per sq.ft (2024)
• Kumaran Street: Rs 260 per sq.ft (2024)
• Kanniamman Koil St: Rs 150 per sq.ft (2024)
• Kannagi Street: Rs 260 per sq.ft (2024)

Stamp duty and registration fee for property in Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 260 per sq.ft, the guideline value amounts to Rs 2,60,000. The stamp duty at 7% would be Rs 18,200, and the registration fee at 2% would be Rs 5,200, totaling Rs 23,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Koil Street?

The Sub Registrar Office that covers Koil Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303. For more information, you can find your SRO.

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

When buying or selling property in Ammayarkuppam, the guideline value is crucial as it determines the stamp duty and registration fees payable at the time of registration. The guideline value serves as a benchmark for property transactions, ensuring that all parties are aware of the official valuation set by the government.

It is important to note that the guideline value may differ from the actual sale price of the property. Buyers and sellers should be prepared to pay stamp duty based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Koil Street?

The current guideline value of Koil Street is Rs 260 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Koil Street has changed multiple times, with the most recent revision in 2024 maintaining the value at Rs 260 per sq.ft. Notably, it increased from Rs 174 per sq.ft in 2017 to Rs 260 per sq.ft in 2023.

What are the other streets with guideline values in Ammayarkuppam?

In Ammayarkuppam, there are several other streets with varying guideline values, ranging from Rs 150 to Rs 260 per sq.ft. Koil Street's value is equal to the median value of Rs 260 per sq.ft in the village.

What fees are associated with buying property on Koil Street?

When purchasing property on Koil Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For example, a 1,000 sq.ft plot would incur a total fee of Rs 23,400.

Which office handles property registrations for Koil Street?

The Ramakrishna Rajupettai Sub Registrar Office handles property registrations for Koil Street, located at Pallipattu Road, Rk Pettai 631 303.