Guideline Value for V.V. KOIL STREET

V.V. Koil Street guideline value

The current guideline value of V.V. Koil Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

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

The guideline value for V.V. Koil Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 467 per sq.ft. This increased to Rs 539 per sq.ft in 2003, marking a 15% rise. The value then saw a significant increase to Rs 1,000 per sq.ft in 2007, which was a growth of 86%. The 2012 revision brought the value down to Rs 3,200 per sq.ft, a decrease of 220% from the previous figure. However, the guideline value rose again to Rs 2,144 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 3,200 per sq.ft, and the most recent 2024 revision has increased it to Rs 3,520 per sq.ft, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 654%. There are no figures available for revisions in years other than those listed above.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. V.V. Koil Street's 2024 guideline value is below this median.

• West First Bungalow Street: Rs 4,620 per sq.ft (2024)
• V.O.C. Street: Rs 3,520 per sq.ft (2024)
• West Side Main Road: Rs 4,620 per sq.ft (2024)
• Vivekananda Street: Rs 3,520 per sq.ft (2024)
• 120 Feet Road West Side: Rs 8,800 per sq.ft (2024)
• Visalatchi Nagar 3rd Street: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in V.V. Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. It is important to note that the 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 accurate calculations.

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

The Sub Registrar Office that covers V.V. Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

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

The current guideline value of V.V. Koil Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 467 per sq.ft in 2002 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 654% over the years.

What is the land classification for V.V. Koil Street?

V.V. Koil Street is classified as Residential Class III Type - I, indicating the type of development permitted in the area.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 3,16,800.

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

The Sub Registrar Office for V.V. Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.