Guideline Value for THERUVEETHIAMMAN KOIL STREET

Theruveethiamman Koil Street guideline value

The current guideline value of Theruveethiamman Koil Street is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Theruveethiamman Koil Street has changed

The guideline value for Theruveethiamman Koil Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in 2017. Following this, the value significantly increased to Rs 1,400 per sq.ft in the 2023 revision, and then rose again to Rs 1,540 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the changes, from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Theruveethiamman Koil Street's 2024 guideline value is below this median.

• Thavooth Nagar 2nd Street: Rs 1,540 per sq.ft (2024)
• Thavooth Nagar 1st Street: Rs 1,540 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 2,200 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Street: Rs 2,750 per sq.ft (2024)
• Thiruveethi Amman Koil Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Theruveethiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. 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 Theruveethiamman Koil Street?

The Sub Registrar Office that covers Theruveethiamman Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Medavakkam. It is the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the transaction is officially recorded and that the necessary taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Theruveethiamman Koil Street?

The current guideline value of Theruveethiamman Koil Street is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then increased to Rs 1,400 in 2023, and finally to Rs 1,540 in 2024.

What is the land classification for Theruveethiamman Koil Street?

The land classification for Theruveethiamman Koil Street is Residential Class IV Type - I.

Which Sub Registrar Office is responsible for Theruveethiamman Koil Street?

The Chennai South Joint I Sub Registrar Office is responsible for Theruveethiamman Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in Medavakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would amount to Rs 1,07,800.