Guideline Value for V.P.Koil Street

V.P.Koil Street guideline value

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

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

The guideline value for V.P.Koil Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft since the 2024 revision. The changes from the previous revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for V.P.Koil Street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, making V.P.Koil Street's 2024 figure of Rs 2,200 per sq.ft above the median.

• V.P.Koil Lane: 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 Street

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 fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

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

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the government receives the appropriate revenue. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the total costs involved in the transaction.

Frequently asked questions

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

The current guideline value of V.P.Koil Street 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft since the 2024 revision.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for the 1,384 streets in Tondaiarpet is Rs 1,600 per sq.ft, while V.P.Koil Street's 2024 figure of Rs 2,200 per sq.ft is above this median.

What fees are associated with property transactions on V.P.Koil Street?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for V.P.Koil Street?

The Sub Registrar Office for V.P.Koil Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.