Guideline Value for Thiruveedhi Amman Koil Veedhi

Thiruveedhi Amman Koil Veedhi guideline value

The current guideline value of Thiruveedhi Amman Koil Veedhi is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Thiruveedhi Amman Koil Veedhi has changed

The guideline value for Thiruveedhi Amman Koil Veedhi has seen several revisions over the years. Starting from Rs 320 per sq.ft in 2002, it increased to Rs 381 per sq.ft in 2003. The value then rose significantly to Rs 1,250 per sq.ft in 2007, followed by a further increase to Rs 2,000 per sq.ft in 2012. However, it dropped to Rs 1,340 per sq.ft in 2017 before climbing back to Rs 2,000 per sq.ft in 2023, and finally reaching Rs 2,200 per sq.ft in 2024.

The changes between these revisions are notable. From 2002 to 2003, the increase was +19%. The value then surged by +228% from 2003 to 2007. The following revision from 2007 to 2012 saw a decrease of -33%. After that, the value increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an increase of +10%. Overall, from 2002 to 2024, the guideline value has increased by +588%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO, with guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft as of 2024. The median guideline value in this area is Rs 3,900 per sq.ft, indicating that Thiruveedhi Amman Koil Veedhi's current figure is below this median.

• Thiruveedhi Amman Koil Main Road: Rs 2,200 per sq.ft (2024)
• Thiruveedhi Amman Koil First Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhi Amman Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhi Amman Cross Street: Rs 2,200 per sq.ft (2024)
• Thulukkathamman Koil Main Road: Rs 2,200 per sq.ft (2024)
• Vaidegi Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruveedhi Amman Koil Veedhi

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Thiruveedhi Amman Koil Veedhi?

The Thiruveedhi Amman Koil Veedhi area falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for further assistance.

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

The guideline value is an essential factor in property transactions in Kottivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is crucial to verify the current guideline value to ensure compliance with local regulations. This value not only affects the financial aspects of the transaction but also plays a role in the legal documentation required for property registration.

Frequently asked questions

What is the current guideline value of Thiruveedhi Amman Koil Veedhi?

The current guideline value of Thiruveedhi Amman Koil Veedhi is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 320 per sq.ft in 2002 and reaching Rs 2,200 per sq.ft in 2024. The changes include increases and decreases in various years, reflecting the fluctuations in property valuation.

What is the land classification for Thiruveedhi Amman Koil Veedhi?

Thiruveedhi Amman Koil Veedhi is classified as Residential Class IV Type - II. This classification is important for understanding the intended use and regulations governing the property.

Where can I find the Sub Registrar Office for this area?

The Adayar Sub Registrar Office covers Thiruveedhi Amman Koil Veedhi and is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a plot valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.