Guideline Value for Thiruppur Koil Street

Thiruppur Koil Street guideline value

The current guideline value of Thiruppur Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruppur Koil Street has changed

The guideline value for Thiruppur Koil Street has undergone several revisions over the years. The oldest available figure is from the 2012 revision, which was Rs 3,500 per sq.ft. This was followed by a decrease to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 3,500 per sq.ft, and the latest revision in 2024 has further increased this to Rs 3,850 per sq.ft, a rise of 10% from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the current value for Thiruppur Koil Street. Below are other streets in Valasaravakkam with their respective guideline values:

• Thiruppathi Nagar Vijay 3rd street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 7th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 6th Street: Rs 3,850 per sq.ft (2024)
• Thiruppathi Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Thiruppuzhal 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruppur Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiruppur Koil Street?

The Sub Registrar Office that covers Thiruppur Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and reflects the minimum value for property transactions in the area.

When a property is sold, the buyer and seller must ensure that the sale price is not lower than the guideline value. This ensures that the government receives the appropriate taxes based on the established guideline value, which is periodically revised to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Thiruppur Koil Street?

The current guideline value of Thiruppur Koil Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, an increase of 10%. It was Rs 2,345 per sq.ft in 2017, which was a 49% increase from the previous figure of Rs 3,500 per sq.ft in 2012.

What is the land classification for Thiruppur Koil Street?

The land classification for Thiruppur Koil Street is Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Thiruppur Koil Street?

The Sub Registrar Office covering Thiruppur Koil Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Thiruppur Koil Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500.