Guideline Value for VAALEESWARAR KOIL STREET

Vaaleeswarar Koil Street guideline value

The current guideline value of Vaaleeswarar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Vaaleeswarar Koil Street has changed

The guideline value for Vaaleeswarar Koil Street has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 783 per sq.ft. It increased to Rs 870 per sq.ft in 2003, marking an increase of 11%. The value then rose by 15% to Rs 1,000 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 3,000 per sq.ft, representing a 200% increase. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, which again did not see any change. In 2024, the guideline value increased by 10% to Rs 3,300 per sq.ft.

It is important to note that there is no figure available for the 2017 revision in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 321%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that the guideline value for Vaaleeswarar Koil Street is below this median.

• Vadakoor Selva Vinayagar Koil Lane: Rs 7,100 per sq.ft (2024)
• Vadakoor Selva Vinayagar Koil Street: Rs 9,300 per sq.ft (2024)
• Vadhyar Annamalai Street: Rs 7,100 per sq.ft (2024)
• Vadugu Idayar Street: Rs 7,100 per sq.ft (2024)
• Vaikkol Thotti: Rs 3,300 per sq.ft (2024)
• Valeeswaran Koil Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vaaleeswarar 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, leading to a total of Rs 2,97,000. 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 details.

Which Sub Registrar Office covers Vaaleeswarar Koil Street?

The Sub Registrar Office that covers Vaaleeswarar Koil Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the registration process. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vaaleeswarar Koil Street?

The current guideline value of Vaaleeswarar 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 increased from Rs 783 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 321% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office is responsible for Vaaleeswarar Koil Street?

The Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018, covers Vaaleeswarar Koil Street.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate the applicable stamp duty and registration fees, ensuring that transactions are recorded accurately.