Guideline Value for Sri Ram Koil Street

Sri Ram Koil Street guideline value

The current guideline value of Sri Ram Koil Street in Kathivakkam village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Ram Koil Street has changed

The guideline value for Sri Ram Koil Street has undergone several revisions over the years. In 2002, the value was Rs 105 per sq.ft, which increased to Rs 125 per sq.ft in 2003, marking a 19% rise. By 2007, the value had further increased to Rs 200 per sq.ft, reflecting a 60% change. The 2012 revision saw a rise to Rs 600 per sq.ft, representing a significant 200% increase. However, this value dropped to Rs 402 per sq.ft in 2017, which was a decrease of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, and it remains the same in the 2024 revision.

Overall, from 2002 to 2024, the guideline value has increased by 852%. The revisions from 2017 to 2023 showed a substantial increase of 149%, while the most recent change from 2023 to 2024 saw no change in the guideline value.

Guideline values in Kathivakkam

In Kathivakkam, there are 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,001 per sq.ft, placing the 2024 figure for Sri Ram Koil Street below this median.

• South Pragaram Street: Rs 1,001 per sq.ft (2024)
• S.V.M. nagar /All Streets: Rs 1,100 per sq.ft (2024)
• South Lock Road: Rs 1,000 per sq.ft (2024)
• Thadavakara kuppam: Rs 1,000 per sq.ft (2024)
• Sivanapadai Veethi: Rs 1,100 per sq.ft (2024)
• Thalanguppam Road/Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total cost together to Rs 90,000. It is important to note that the 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 Sri Ram Koil Street?

The Sub Registrar Office that covers Sri Ram 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 Kathivakkam

The guideline value plays a crucial role during the registration of properties in Kathivakkam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value will be assessed to calculate the applicable charges. This ensures that the costs associated with property transactions are standardized and transparent.

Frequently asked questions

What is the current guideline value of Sri Ram Koil Street?

The current guideline value of Sri Ram Koil Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 105 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of 852% over the years.

What is the median guideline value for streets in Kathivakkam?

The median guideline value for streets in Kathivakkam is Rs 1,001 per sq.ft, with Sri Ram Koil Street's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in Sri Ram Koil Street?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Where is the Sub Registrar Office for Sri Ram Koil Street located?

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