Guideline Value for S.P. KOIL STREET

S.P. Koil Street guideline value

The current guideline value of S.P. Koil Street is Rs 4,700 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO and is classified as Residential Class IV Type - I.

How the guideline value of S.P. Koil Street has changed

The guideline value for S.P. Koil Street has seen several revisions over the years. In 2007, the value was Rs 1,050 per sq.ft, which increased significantly to Rs 4,300 per sq.ft in 2012. However, it dropped to Rs 2,881 per sq.ft in 2017. The value then rose to Rs 4,300 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 4,700 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%, followed by a 9% increase from 2023 to 2024. The overall change from 2007 to 2024 reflects a substantial increase of 348%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value is Rs 6,000 per sq.ft, placing S.P. Koil Street's 2024 figure below this median.

• Sivananthapuram Street: Rs 5,300 per sq.ft (2024)
• Sidco Salai - R - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - Q - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - P - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - O - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)
• Sidco Salai - N - Block - M.M.D.A. Colony: Rs 6,900 per sq.ft (2024)

Stamp duty and registration fee for property in S.P. Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,700 per sq.ft, the total guideline value amounts to Rs 47,00,000. The stamp duty at 7% would be Rs 3,29,000, and the registration fee at 2% would be Rs 94,000, resulting in a total of Rs 4,23,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers S.P. Koil Street?

S.P. Koil Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, aiding both buyers and sellers in making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of S.P. Koil Street?

The current guideline value of S.P. Koil Street is Rs 4,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, increasing from Rs 1,050 per sq.ft in 2007 to Rs 4,700 per sq.ft in 2024, which is an overall increase of 348%.

What is the median guideline value in Arumbakkam?

The median guideline value in Arumbakkam is Rs 6,000 per sq.ft, which is higher than the current value of S.P. Koil Street.

What are the stamp duty and registration fees for properties in S.P. Koil Street?

The stamp duty for a property valued at Rs 47,00,000 would be Rs 3,29,000, while the registration fee would be Rs 94,000, totaling Rs 4,23,000.

Which office do I need to visit for registration in S.P. Koil Street?

The Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026, covers S.P. Koil Street for registration purposes.