Guideline Value for V.P.Koil Lane

V.P.Koil Lane guideline value

The current guideline value of V.P.Koil Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This lane is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of V.P.Koil Lane has changed

Over the years, the guideline value of V.P.Koil Lane has seen significant changes. In 2007, the value was Rs 700 per sq.ft, which increased to Rs 2,000 per sq.ft by 2012, marking a rise of 186%. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the increase was 49%. Overall, from 2007 to 2024, the guideline value has increased by 214%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing V.P.Koil Lane's 2024 figure above that median.

• V.P.Koil Street: Rs 2,200 per sq.ft (2024)
• Washer Varadappa (M) Street: Rs 2,200 per sq.ft (2024)
• West Kalmandapam Road: Rs 4,900 per sq.ft (2024)
• West Mada Church Street: Rs 3,800 per sq.ft (2024)
• West Veerakutty Street: Rs 1,300 per sq.ft (2024)
• Venkatesa(N) 5th Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in V.P.Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to 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 detailed calculations.

Which Sub Registrar Office covers V.P.Koil Lane?

The Sub Registrar Office that covers V.P.Koil Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Tondaiarpet. It serves as a benchmark for the minimum price at which the property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.P.Koil Lane?

The current guideline value of V.P.Koil Lane 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 increased from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over this period.

What is the land classification for V.P.Koil Lane?

V.P.Koil Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using our stamp duty and registration fee calculator.

Which office handles registrations for V.P.Koil Lane?

The Royapuram Sub Registrar Office handles registrations for V.P.Koil Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.