Guideline Value for S.P.Koil Street

S.P.Koil Street guideline value

The current guideline value of S.P.Koil Street in Arani village, under the Arani_Tiruvallur SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - II.

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

The guideline value for S.P.Koil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 145 per sq.ft, which increased to Rs 162 per sq.ft in 2003, marking a change of +12%. The value then rose to Rs 200 per sq.ft in 2007, representing a +23% increase. Following this, there was a significant jump to Rs 600 per sq.ft in 2012, an increase of +200%. However, this was followed by a decrease to Rs 402 per sq.ft in 2017, which was a decline of -33%.

From 2017 to 2023, the guideline value remained at Rs 600 per sq.ft, and then it was revised again in 2024 to Rs 600 per sq.ft, showing no change from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +314%.

Guideline values in Arani

In Arani, there are a total of 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing S.P.Koil Street's 2024 figure above that median.

• Sri Chamundeswari Nagar Annexe: Rs 250 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Avenue: Rs 200 per sq.ft (2024)
• Sri Sathya Saibaba Nagar Extension: Rs 300 per sq.ft (2024)
• Sri S.V. Nagar: Rs 200 per sq.ft (2024)
• Sathiya Saibaba Nagar: Rs 200 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 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 further calculations.

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

The Sub Registrar Office that covers S.P.Koil Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Arani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded according to the established rates. This helps maintain transparency and consistency in property dealings within the region.

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 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 145 per sq.ft in 2002 to Rs 600 per sq.ft in 2024, reflecting an overall increase of +314%.

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

S.P.Koil Street is classified as Commercial Class I Type - II under the guideline value register.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would amount to Rs 54,000.

Where can I find the Sub Registrar Office for S.P.Koil Street?

The Sub Registrar Office for S.P.Koil Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.