Guideline Value for Komaleeswaran Koil Street

Komaleeswaran Koil Street guideline value

The current guideline value of Komaleeswaran Koil Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Komaleeswaran Koil Street has changed

Over the years, the guideline value for Komaleeswaran Koil Street has seen significant changes. The 2002 revision set the value at Rs 454 per sq.ft, which increased to Rs 501 per sq.ft in 2003. Following this, the value surged to Rs 1,000 per sq.ft in 2007, marking a 100% increase from the previous year. The 2012 revision brought the value to Rs 8,500 per sq.ft, a notable increase of 750%. However, this value decreased by 33% to Rs 5,695 per sq.ft in the 2017 revision. The 2023 revision set the value at Rs 8,500 per sq.ft, which then increased by 9% to the current value of Rs 9,300 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 1948%. There are no figures available for the revisions in years other than those mentioned above.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Komaleeswaran Koil Street is above this median, reflecting its commercial classification.

• Koil lane: Rs 4,900 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 Komaleeswaran Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. 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 Komaleeswaran Koil Street?

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

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

The guideline value is a critical factor during the registration of property transactions in Egmore. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential costs associated with the transaction. This ensures that both parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Komaleeswaran Koil Street?

The current guideline value of Komaleeswaran Koil Street is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 454 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, reflecting an overall increase of 1948% over this period.

What is the land classification of Komaleeswaran Koil Street?

Komaleeswaran Koil Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for this area?

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

How is stamp duty calculated for properties on this street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 93,00,000 would incur a stamp duty of Rs 6,51,000 at 7%.