Guideline Value for THANTHOONIAMMAN KOIL STREET (Kovil Land)

THANTHOONIAMMAN KOIL STREET (Kovil Land) guideline value

The current guideline value for THANTHOONIAMMAN KOIL STREET (Kovil Land) in Padi village, under the Villivakkam SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - II land classification.

How the guideline value of THANTHOONIAMMAN KOIL STREET (Kovil Land) has changed

Over the years, the guideline value for THANTHOONIAMMAN KOIL STREET has seen several revisions. The 2012 revision set the value at Rs 3,100 per sq.ft, which was a decrease of 33% from the Rs 2,077 per sq.ft in 2017. The value remained unchanged at Rs 3,100 per sq.ft in the 2023 revision, before increasing to Rs 3,400 per sq.ft in the 2024 revision, marking a 10% increase.

From 2017 to 2023, the guideline value rose significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 3,800 per sq.ft, which means the current value for THANTHOONIAMMAN KOIL STREET (Kovil Land) is below this median.

• Thanikachalam Street (Near Jagadambikai Nagar): Rs 3,400 per sq.ft (2024)
• Thangavel Thottam: Rs 3,400 per sq.ft (2024)
• Thamarai Kudiyeruppu: Rs 6,600 per sq.ft (2024)
• Thiruganasambanthar Street (Kovil Land): Rs 2,500 per sq.ft (2024)
• Thirumagal Colony: Rs 8,200 per sq.ft (2024)
• SYNDICATE BANK COLONY 11th STREET: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in THANTHOONIAMMAN KOIL STREET (Kovil Land)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total cost to Rs 3,06,000. 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 more details.

Which Sub Registrar Office covers THANTHOONIAMMAN KOIL STREET (Kovil Land)?

The Sub Registrar Office that covers THANTHOONIAMMAN KOIL STREET (Kovil Land) 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 Padi

The guideline value is a crucial factor in the registration process when buying or selling property in Padi. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration. This ensures transparency and compliance with the local regulations governing property transactions.

Frequently asked questions

What is the current guideline value for THANTHOONIAMMAN KOIL STREET (Kovil Land)?

The current guideline value for THANTHOONIAMMAN KOIL STREET (Kovil Land) is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024, a 10% increase. It was Rs 2,077 per sq.ft in 2017, which means there was a 49% increase from 2017 to 2023.

What is the land classification for THANTHOONIAMMAN KOIL STREET (Kovil Land)?

THANTHOONIAMMAN KOIL STREET (Kovil Land) is classified as Residential Class IV Type - II. This classification affects the guideline value and potential uses of the land.

What are the stamp duty and registration fees for properties in Padi?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot at Rs 3,400 per sq.ft, the total cost would be Rs 3,06,000.

Which office do I need to visit for registration in Padi?

The Villivakkam Sub Registrar Office is responsible for property registrations in Padi. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.