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 2 village, under the Chennai Central Joint I SRO, and is 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 has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

As of the 2024 revision, the guideline value stands at Rs 8,700 per sq.ft. This is an increase from the previous year's figure of Rs 8,000 per sq.ft, reflecting a notable adjustment in the valuation for this street.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, 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, placing V.V.Koil Lane's 2024 figure below that 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, while the registration fee at 2% would be Rs 1,74,000, bringing the total fees to Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

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 2

When buying or selling property in Mylapore Part 2, the guideline value plays a crucial role during the registration process. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

The guideline value is set by the Registration Department and is periodically revised to reflect changes in the real estate market. Buyers and sellers should be aware that the guideline value may differ from the actual sale price, and the applicable fees will be based on the higher of the two amounts.

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 much did the guideline value change from 2023 to 2024?

The guideline value for V.V.Koil Lane increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

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

V.V.Koil Lane is classified as Residential Class I Type - III according to the guideline value register.

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.

What is the median guideline value for streets in Mylapore Part 2?

The median guideline value for the 332 streets in Mylapore Part 2 is Rs 8,800 per sq.ft, which is higher than the current guideline value of V.V.Koil Lane.