Guideline Value for VAIKKOL THOTTI

Vaikkol Thotti guideline value

The current guideline value of Vaikkol Thotti 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 Vaikkol Thotti has changed

The guideline value for Vaikkol Thotti has seen several revisions over the years. Starting from Rs 751 per sq.ft in 2002, it increased to Rs 835 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,000 per sq.ft in 2007, reflecting a 20% increase. By 2012, it remained at Rs 3,000 per sq.ft, showing no change from the previous revision. The next revision in 2023 set the value at Rs 3,000 per sq.ft, with no change again, followed by the current rate of Rs 3,300 per sq.ft in 2024, which represents a 10% increase.

It is noteworthy that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 339%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Vaikkol Thotti is below this median.

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

Stamp duty and registration fee for property in Vaikkol Thotti

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaikkol Thotti?

The Sub Registrar Office that covers Vaikkol Thotti is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value is updated periodically and reflects the current market conditions for properties in the area.

Frequently asked questions

What is the current guideline value of Vaikkol Thotti?

The current guideline value of Vaikkol Thotti 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 751 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 339%.

What is the land classification of Vaikkol Thotti?

Vaikkol Thotti is classified as Residential Class V Type - III according to the local land classification standards.

What are the stamp duty and registration fees for properties in Vaikkol Thotti?

For a property valued at Rs 33,00,000, the 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 covers Vaikkol Thotti?

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