Guideline Value for S.P.KOIL STREET

S.P.Koil Street guideline value

The current guideline value of S.P.Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special 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 the 2007 revision, the value was Rs 783 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 283%. However, this value decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision set it at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

There are no figures available for the years 2002 and 2003 for S.P.Koil Street. Overall, from 2007 to 2024, the guideline value has increased by 321%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of S.P.Koil Street.

• Sowndarapandiyanar Nagar: Rs 3,700 per sq.ft (2024)
• South Prakaram Street: Rs 3,700 per sq.ft (2024)
• South Mada Steet: Rs 3,700 per sq.ft (2024)
• Sornam Nagar: Rs 3,300 per sq.ft (2024)
• Somu Chetty Street: Rs 3,300 per sq.ft (2024)
• Somasundaram Nagar: Rs 3,700 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 rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 details.

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

The Sub Registrar Office that covers S.P.Koil Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration of property transactions in Thiruvottiyur. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration 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 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 783 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 321% over the years.

What is the land classification for S.P.Koil Street?

S.P.Koil Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in S.P.Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 2,97,000.