Guideline Value for THIRUVALLESWARAR COLONY (KOVIL LAND)

Thiruvalleswarar Colony (Kovil Land) guideline value

The current guideline value of Thiruvalleswarar Colony (Kovil Land) is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is located in Padi village under the Villivakkam SRO and is classified as Residential Class IV Type - II.

How the guideline value of Thiruvalleswarar Colony (Kovil Land) has changed

The guideline value for Thiruvalleswarar Colony (Kovil Land) has seen several revisions over the years. The 2012 revision set the value at Rs 3,100 per sq.ft, which was followed by a decrease to Rs 2,077 per sq.ft in the 2017 revision. However, the value increased significantly in the 2023 revision to Rs 3,100 per sq.ft, and the latest revision in 2024 raised it to Rs 3,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

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 the village is Rs 3,800 per sq.ft, making the current rate for Thiruvalleswarar Colony (Kovil Land) below the median.

• Thiruvalluvar Kovil Street: Rs 3,400 per sq.ft (2024)
• Thirumagal Colony: Rs 8,200 per sq.ft (2024)
• Thiruganasambanthar Street (Kovil Land): Rs 2,500 per sq.ft (2024)
• THANTHOONIAMMAN KOIL STREET (Kovil Land): Rs 3,400 per sq.ft (2024)
• Thanikachalam Street (Near Jagadambikai Nagar): Rs 3,400 per sq.ft (2024)
• T.M.P.Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalleswarar Colony (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 for these fees to Rs 3,06,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thiruvalleswarar Colony (Kovil Land)?

The Sub Registrar Office that covers Thiruvalleswarar Colony (Kovil 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padi. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately, and the appropriate taxes are collected. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Thiruvalleswarar Colony (Kovil Land)?

The current guideline value of Thiruvalleswarar Colony (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 2012 to Rs 2,077 per sq.ft in 2017, then back to Rs 3,100 per sq.ft in 2023, and finally to Rs 3,400 per sq.ft in 2024.

What is the land classification of Thiruvalleswarar Colony?

Thiruvalleswarar Colony (Kovil Land) is classified as Residential Class IV Type - II, indicating its use for residential purposes.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What is the median guideline value in Padi village?

The median guideline value in Padi village is Rs 3,800 per sq.ft, which indicates where Thiruvalleswarar Colony's value stands in comparison to other streets in the area.