Guideline Value for V.V.Koil Street

V.V.Koil Street guideline value

The current guideline value of V.V.Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam 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 seen several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 500 per sq.ft. This increased to Rs 546 per sq.ft in 2003, marking a rise of 9%. The value then saw a significant jump to Rs 850 per sq.ft in 2007, which is an increase of 56%. The next revision in 2012 brought the value down to Rs 3,000 per sq.ft, a decrease of 253%. However, this was followed by a rise to Rs 2,010 per sq.ft in 2017, which was a 49% increase. The value was further revised to Rs 3,000 per sq.ft in 2023, and finally, it reached the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Throughout these years, the guideline value has experienced a substantial overall increase of 560% from 2002 to 2024. There are no figures available for revisions in the years not listed in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median value for the area is Rs 4,400 per sq.ft, indicating that the guideline value for V.V.Koil Street is below this median.

• V.P.Dasarathan Street: Rs 3,300 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)
• Yegambaram Street: Rs 3,300 per sq.ft (2024)
• Yerikkarai Street: Rs 3,300 per sq.ft (2024)
• 100 Feet Road: Rs 13,190 per sq.ft (2024)
• Vivekanandar Street: Rs 4,400 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers V.V.Koil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees applicable to property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the transaction's worth for taxation purposes. This means that the fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560%.

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

The land classification for V.V.Koil Street is Residential Class III Type - I.

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

The Virugambakkam Sub Registrar Office covers V.V.Koil Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur fees totaling Rs 2,97,000.