Guideline Value for Koil lane

Koil lane guideline value

The current guideline value of Koil lane, located in Egmore village under the Periamet SRO, is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - III.

How the guideline value of Koil lane has changed

The guideline value for Koil lane has undergone several revisions over the years. In 2002, the value was Rs 534 per sq.ft, which increased to Rs 589 per sq.ft in 2003, marking a 10% rise. The value saw a significant jump to Rs 1,000 per sq.ft in 2007, reflecting a 70% increase. By 2012, the guideline value was Rs 4,500 per sq.ft, indicating a substantial 350% increase from the previous revision.

Following this, the value decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The guideline value then rose to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year. There are no figures available for the revisions in years other than those listed.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, placing Koil lane's 2024 guideline value below this median.

• Komaleeswaran Koil Street: Rs 9,300 per sq.ft (2024)
• Kilpauk Highroad: Rs 13,500 per sq.ft (2024)
• Kilpauk Garden street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden road 1st street: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden RingStreet: Rs 13,400 per sq.ft (2024)
• Kilpauk Garden Park Street: Rs 13,400 per sq.ft (2024)

Stamp duty and registration fee for property in Koil lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Koil lane?

The Sub Registrar Office that covers Koil lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for any further inquiries.

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

The guideline value is a crucial factor when registering property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling a property, the guideline value ensures that both parties are aware of the minimum value assigned to the property, which helps in maintaining transparency in the transaction process. This value is essential for compliance with local regulations and for calculating the necessary fees.

Frequently asked questions

What is the current guideline value of Koil lane?

The current guideline value of Koil lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 534 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 818% over the years.

What is the land classification for Koil lane?

Koil lane is classified as Residential Class II Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Koil lane?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Koil lane located?

The Sub Registrar Office for Koil lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.