Guideline Value for V.V.Koil Lane

V.V.Koil Lane guideline value

The current guideline value of V.V.Koil Lane is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class I Type - III.

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

The guideline value for V.V.Koil Lane has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that in 2023, the guideline value was Rs 8,000 per sq.ft, which increased by 9% to Rs 8,700 per sq.ft in the 2024 revision.

Prior to the 2023 revision, the guideline value for V.V.Koil Lane was not recorded in the register for the years mentioned. The 2024 figure of Rs 8,700 per sq.ft reflects the latest valuation as of July 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, making the 2024 figure for V.V.Koil Lane below this median.

• West End Street: Rs 8,700 per sq.ft (2024)
• V.O.C. Street: Rs 7,700 per sq.ft (2024)
• Yahiya Ali 1st Street: Rs 7,700 per sq.ft (2024)
• Yahiya Ali 2nd Street: Rs 7,700 per sq.ft (2024)
• Yahiya Ali 3rd Street: Rs 7,700 per sq.ft (2024)
• Venkatarathinam Salai: Rs 10,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total to Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers V.V.Koil Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value plays a crucial role during the registration of property transactions in Mylapore Part 1. It is used to determine the stamp duty and registration fees that must be paid, ensuring that these charges are based on a standardized valuation of the property.

When buying or selling property, the guideline value is assessed to ensure compliance with legal requirements. Buyers should be aware that the final charges will depend on the higher of the guideline value or the agreed sale price, which affects the total cost of the transaction.

Frequently asked questions

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

The current guideline value of V.V.Koil Lane is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for V.V.Koil Lane has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a 9% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of V.V.Koil Lane?

V.V.Koil Lane is classified as Residential Class I Type - III under the Chennai Central Joint I SRO.

What are the stamp duty and registration fees for properties in V.V.Koil Lane?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000, and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering V.V.Koil Lane is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.