Guideline Value for VADAKOOR SELVA VINAYAGAR KOIL LANE

Vadakoor Selva Vinayagar Koil Lane guideline value

The current guideline value of Vadakoor Selva Vinayagar Koil Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This lane is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Vadakoor Selva Vinayagar Koil Lane has changed

The guideline value for Vadakoor Selva Vinayagar Koil Lane has seen significant changes over the years. In 2002, the value was Rs 751 per sq.ft, which increased to Rs 835 per sq.ft in 2003, marking an 11% rise. The value continued to rise, reaching Rs 1,540 per sq.ft in 2007, a substantial increase of 84% from the previous revision. By 2017, the guideline value had jumped to Rs 4,355 per sq.ft, reflecting a remarkable 183% increase from 2007.

The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a 63% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 845%. It is important to note that the register has no figures for the years 2012 and 2023 for this street.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in Mylapore is Rs 8,800 per sq.ft, placing Vadakoor Selva Vinayagar Koil Lane's current guideline value below that median.

• Vadakoor Selva Vinayagar Koil Street: Rs 9,300 per sq.ft (2024)
• Vaaleeswarar Koil Street: Rs 3,300 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 Vadakoor Selva Vinayagar Koil Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 Vadakoor Selva Vinayagar Koil Lane?

The Sub Registrar Office that covers Vadakoor Selva Vinayagar Koil Lane 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 is a crucial factor in property transactions in Mylapore. It is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware that the guideline value can impact the overall cost of property transactions.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties. This ensures that the transaction is documented accurately and that the appropriate fees are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vadakoor Selva Vinayagar Koil Lane?

The current guideline value of Vadakoor Selva Vinayagar Koil Lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 751 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 845% over the years.

What is the land classification for Vadakoor Selva Vinayagar Koil Lane?

Vadakoor Selva Vinayagar Koil Lane is classified as Residential Class IV Type - III.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Vadakoor Selva Vinayagar Koil Lane is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties in Mylapore?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.