Guideline Value for Thiruveedhiamman Koil Street

Thiruveedhiamman Koil Street guideline value

The current guideline value of Thiruveedhiamman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Thiruveedhiamman Koil Street has changed

The guideline value for Thiruveedhiamman Koil Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 700 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a 257% rise. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, which was a decrease of 33%. The most recent revision in 2024 saw the guideline value rise again to Rs 2,700 per sq.ft, reflecting an increase of 61% from 2017.

It is important to note that the guideline value register does not contain figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Thiruveedhiamman Koil Street's 2024 figure below that median.

• Thiruveedhiamman Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruveedhiamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Nagar Extension: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruveedhiamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thiruveedhiamman Koil Street?

The Sub Registrar Office that covers Thiruveedhiamman Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process for property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction adheres to legal standards.

When buying or selling property, the guideline value influences the stamp duty and registration fees that must be paid. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Thiruveedhiamman Koil Street?

The current guideline value of Thiruveedhiamman Koil Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

What are the other streets in Kolathur with their guideline values?

Other streets in Kolathur include Thiruveedhiamman Koil 4th Cross Street, 3rd Cross Street, 2nd Cross Street, and 1st Cross Street, all valued at Rs 2,200 per sq.ft in 2024. Additionally, Thiruvalluvar Nagar Extension is valued at Rs 2,700 per sq.ft.

What fees are associated with buying property on Thiruveedhiamman Koil Street?

When buying property on Thiruveedhiamman Koil Street, buyers will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Thiruveedhiamman Koil Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.