Guideline Value for SIVAN KOIL STREET (KOIL LAND)

Sivan Koil Street (Koil Land) guideline value

The current guideline value of Sivan Koil Street (Koil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Padi village and falls under the Villivakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Sivan Koil Street (Koil Land) has changed

The guideline value for Sivan Koil Street (Koil Land) has undergone several revisions over the years. In 2012, the guideline value was Rs 2,300 per sq.ft, which decreased to Rs 1,541 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,300 per sq.ft in 2023, and then to Rs 2,500 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 9% in the guideline value per sq.ft.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing Sivan Koil Street (Koil Land) below this median value.

• Silver Palms: Rs 2,500 per sq.ft (2024)
• Soundarya Colony: Rs 8,700 per sq.ft (2024)
• South Mada Street: Rs 4,400 per sq.ft (2024)
• South Mada Street 'bharathi Nagar': Rs 4,400 per sq.ft (2024)
• South Mada Street 'moorthysamy Colony 1st Street': Rs 4,400 per sq.ft (2024)
• South Mada Street 'moorthysamy Colony 2nd Street': Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sivan Koil Street (Koil Land)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total charges Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sivan Koil Street (Koil Land)?

The Sub Registrar Office covering Sivan Koil Street (Koil Land) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling properties in Padi. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with the legal requirements set by the Registration Department.

When a property is registered, the guideline value is used to calculate the applicable fees. This means that understanding the current guideline value is essential for both buyers and sellers to accurately assess the costs involved in the property transaction process.

Frequently asked questions

What is the current guideline value of Sivan Koil Street (Koil Land)?

The current guideline value of Sivan Koil Street (Koil Land) is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Sivan Koil Street (Koil Land)?

The land classification for Sivan Koil Street (Koil Land) is Residential Class V Type - I.

Where can I find the Sub Registrar Office for Sivan Koil Street (Koil Land)?

The Villivakkam Sub Registrar Office covers Sivan Koil Street (Koil Land) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 25,00,000, the stamp duty at 7% would be Rs 1,75,000.