Guideline Value for VALEESWARAN KOIL STREET

Valeeswaran Koil Street guideline value

The current guideline value of Valeeswaran Koil Street is Rs 7,100 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 IV Type - III.

How the guideline value of Valeeswaran Koil Street has changed

The guideline value for Valeeswaran Koil Street has seen several revisions over the years. In 2002, the value was Rs 783 per sq.ft, which increased to Rs 870 per sq.ft in 2003. The value then rose significantly to Rs 1,540 per sq.ft in 2007, followed by a substantial increase to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017. In 2023, the guideline value was revised to Rs 6,500 per sq.ft, and it further increased to Rs 7,100 per sq.ft in 2024, marking a 9% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 807%. The changes between revisions include a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 322% increase from 2007 to 2012, a 77% increase from 2003 to 2007, and an 11% increase from 2002 to 2003. The register has no figure for this street for the years not mentioned.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that Valeeswaran Koil Street's 2024 figure is below this median.

• Vaikkol Thotti: Rs 3,300 per sq.ft (2024)
• Valleeswaran Thottam: Rs 3,300 per sq.ft (2024)
• Valleswaran Thottam 1st Street: Rs 3,300 per sq.ft (2024)
• Valleswaran Thottam 2nd Street: Rs 3,300 per sq.ft (2024)
• Vadugu Idayar Street: Rs 7,100 per sq.ft (2024)
• Valleswaran Thottam 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Valeeswaran Koil Street

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 or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Valeeswaran Koil Street?

Valeeswaran Koil Street falls under the jurisdiction of 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 critical factor when buying or selling property in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Valeeswaran Koil Street?

The current guideline value of Valeeswaran Koil Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 783 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, showing an overall increase of 807% over the years.

What is the stamp duty for property in Valeeswaran Koil Street?

The stamp duty for property in Valeeswaran Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

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

What are the guideline values of other streets in Mylapore?

Other streets in Mylapore have guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft, with the median being Rs 8,800 per sq.ft.