Guideline Value for Theruveedhiyamman Koil Street

Theruveedhiyamman Koil Street guideline value

The current guideline value of Theruveedhiyamman Koil Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Kilay village and falls under the Sriperumpudur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Theruveedhiyamman Koil Street has changed

The guideline value for Theruveedhiyamman Koil Street has undergone several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 150 per sq.ft. In 2017, this value decreased to Rs 100 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 150 per sq.ft, where it remained through the 2023 revision. The current revision for 2024 maintains the same rate of Rs 150 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Therefore, the only significant changes in the guideline value occurred between 2012, 2017, and the subsequent revisions up to 2024.

Guideline values in Kilay

In Kilay village, there are a total of 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Theruveedhiyamman Koil Street's current value below that median.

• Teja's The Retreat: Rs 300 per sq.ft (2024)
• Sri Vaari Nagar: Rs 400 per sq.ft (2024)
• Vasinavi Nagar: Rs 400 per sq.ft (2024)
• Sri Mahaganapathy Nagar: Rs 400 per sq.ft (2024)
• Sri Krishna Nagar: Rs 400 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Theruveedhiyamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Theruveedhiyamman Koil Street?

The Sub Registrar Office that covers Theruveedhiyamman Koil Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kilay. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Theruveedhiyamman Koil Street?

The current guideline value of Theruveedhiyamman Koil Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most notable being a decrease from Rs 150 per sq.ft in 2012 to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023 and 2024.

What is the land classification for Theruveedhiyamman Koil Street?

Theruveedhiyamman Koil Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% and the registration fee at 2% of the higher value between the guideline value and the sale price. For example, for a plot valued at Rs 1,50,000, the total fees would amount to Rs 13,500.

Which office handles registrations for properties in Kilay?

The Sriperumpudur Sub Registrar Office handles registrations for properties in Kilay. It is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.