Guideline Value for Koyyathoppu 1st Street

Koyyathoppu 1st Street guideline value

The current guideline value of Koyyathoppu 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Koyyathoppu 1st Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. The most recent revision in 2024 saw an increase to Rs 2,700 per sq.ft, marking an 8% change from the previous figure. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions available are from 2012 and 2024, with the 2024 figure reflecting a significant increase in the guideline value for Koyyathoppu 1st Street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Koyyathoppu 1st Street.

• Koyyathoppu 2nd Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 3rd Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 4th Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 5th Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 6th Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu Gandhi Nagar 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Koyyathoppu 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, this totals Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Koyyathoppu 1st Street?

The Koyyathoppu 1st Street falls under the jurisdiction of the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, Chennai registration zone. You can find your SRO for more information.

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

When buying or selling property in Kodungaiyur, the guideline value is a crucial factor in determining the registration fee and stamp duty. The guideline value serves as a benchmark for property transactions and is used by the registration department to calculate the applicable taxes.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value helps in assessing the financial obligations associated with property transactions.

Frequently asked questions

What is the current guideline value of Koyyathoppu 1st Street?

The current guideline value of Koyyathoppu 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification for Koyyathoppu 1st Street?

Koyyathoppu 1st Street is classified as Residential Class I Type - I. This classification is important for determining the guidelines and regulations applicable to properties in this area.

What are the stamp duty and registration fees for properties in Koyyathoppu 1st Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for Koyyathoppu 1st Street and surrounding areas.