Guideline Value for V.V.KOVIL STREET

V.V.Kovil Street guideline value

The current guideline value of V.V.Kovil Street is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village and falls under the Walajabad SRO with a land classification of Residential Special Type - I.

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

Over the years, the guideline value of V.V.Kovil Street has experienced several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, this figure dropped to Rs 670 per sq.ft in the 2017 revision, before stabilizing at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, reflecting no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The substantial increase of 900% from the 2007 revision to the 2012 revision highlights a significant change in the property valuation. Overall, from 2007 to 2024, the guideline value has risen by 900%.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with the median being Rs 750 per sq.ft. V.V.Kovil Street's 2024 figure of Rs 1,000 per sq.ft is above this median.

• W.K. Rathinavel St: Rs 750 per sq.ft (2024)
• W.T.Natarajan St: Rs 500 per sq.ft (2024)
• V.M.Avenue: Rs 700 per sq.ft (2024)
• Vinodha Nagar: Rs 1,500 per sq.ft (2024)
• Vijaya Nagar: Rs 550 per sq.ft (2024)
• Venkatrama Pillai Srteet: Rs 750 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.V.Kovil Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Walajabad. It is used to determine the stamp duty and registration fees that need to be paid during the transaction, ensuring that the property is valued appropriately according to the local regulations.

When a property is sold, the guideline value helps in establishing a fair basis for taxation and can influence the overall transaction process. Buyers and sellers should be aware of the current guideline value to ensure compliance with local laws and regulations.

Frequently asked questions

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

The current guideline value of V.V.Kovil Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent revision in 2024 maintaining the value at Rs 1,000 per sq.ft, the same as in 2023. The value has increased from Rs 100 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then dropped to Rs 670 per sq.ft in 2017.

What is the land classification of V.V.Kovil Street?

V.V.Kovil Street is classified as Residential Special Type - I, indicating its designation for residential purposes within the local planning framework.

Where can I find the registration office for V.V.Kovil Street?

The registration office for V.V.Kovil Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Walajabad?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 10,00,000 would incur a stamp duty of Rs 70,000 at a rate of 7%.