Guideline Value for Koil street

Koil street guideline value

The current guideline value of Koil street in Chindadripet village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Periamet SRO and is classified as Residential Class III Type - I.

How the guideline value of Koil street has changed

The guideline value for Koil street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft. Notably, the register has no figures for the revisions in 2002 and 2003.

Between the revisions, there have been significant changes. The guideline value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The jump from 2023 to 2024 is 10%. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Koil street.

• Kovilur Amman Koil 1st lane: Rs 3,300 per sq.ft (2024)
• Kovilur Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Kovilur Amman North street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman South Street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman West street: Rs 2,600 per sq.ft (2024)
• Kovur Vaidyanathan street: Rs 2,600 per sq.ft (2024)

Stamp duty and registration fee for property in Koil street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Koil street?

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

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

The guideline value plays a crucial role in property transactions in Chindadripet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, helping to prevent undervaluation or overvaluation. This value is essential for legal documentation and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Koil street?

The current guideline value of Koil street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the other streets in Chindadripet with similar values?

Other streets in Chindadripet with a guideline value of Rs 3,300 per sq.ft include Kovilur Amman Koil 1st lane and Kovilur Amman Koil Street.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Koil street?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, handles property registrations for Koil street.