Guideline Value for THANTHONIAMMAN KOIL STREET

Thanthoniamman Koil Street guideline value

The current guideline value of Thanthoniamman Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Thanthoniamman Koil Street has changed

The guideline value for Thanthoniamman Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 741 per sq.ft. This amount increased to Rs 845 per sq.ft in 2003, followed by a rise to Rs 950 per sq.ft in 2007. By 2012, the value was revised to Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the most recent 2024 revision set the current guideline value at Rs 3,300 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +14%, and from 2003 to 2007, there was a +12% rise. However, from 2007 to 2012, the value saw a significant decrease of -33%. The value then increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a +10% increase. Overall, from 2002 to 2024, the guideline value has increased by +345%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, placing Thanthoniamman Koil Street's 2024 figure below this median.

• THANTHONIAMMAN KOIL 3rd STREET: Rs 3,300 per sq.ft (2024)
• THANTHONIAMMAN KOIL 2nd STREET: Rs 3,300 per sq.ft (2024)
• THANTHONIAMMAN KOIL 1st STREET: Rs 3,300 per sq.ft (2024)
• THENDRAL COLONY 1st STREET: Rs 6,600 per sq.ft (2024)
• THENDRAL COLONY 2nd STREET: Rs 6,600 per sq.ft (2024)
• THENDRAL COLONY 3rd STREET: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthoniamman 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. 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 further calculations.

Which Sub Registrar Office covers Thanthoniamman Koil Street?

The Sub Registrar Office that covers Thanthoniamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Villivakkam, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

The guideline value is essential for calculating the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these costs are based on the higher of the guideline value or the sale price, which impacts the overall expenses involved in the property transaction.

Frequently asked questions

What is the current guideline value of Thanthoniamman Koil Street?

The current guideline value of Thanthoniamman 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 multiple times, starting from Rs 741 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +345%.

What are the registration fees for property in Thanthoniamman Koil Street?

The registration fees for property in Thanthoniamman Koil Street include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Thanthoniamman Koil Street?

The Villivakkam Sub Registrar Office handles property registrations for Thanthoniamman Koil Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Thanthoniamman Koil Street?

The land classification for Thanthoniamman Koil Street is Residential Class IV Type - II, indicating its designated use for residential purposes.