Guideline Value for VALLI KOLLAI MEDU

Valli Kollai Medu guideline value

The current guideline value of Valli Kollai Medu is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification is Residential Class I Type - II.

How the guideline value of Valli Kollai Medu has changed

The guideline value for Valli Kollai Medu has undergone several revisions over the years. The earliest recorded value was Rs 250 per sq.ft in 2007. This increased significantly to Rs 1,500 per sq.ft in 2012, reflecting a rise of 500%. However, the value then dropped to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by another rise to Rs 1,650 per sq.ft in 2024, which is an increase of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, making the current value for Valli Kollai Medu above this median.

• Vallikollai Medu 1st Street: Rs 1,650 per sq.ft (2024)
• Vallikollai Medu 2nd Street: Rs 1,650 per sq.ft (2024)
• Vallikollai Medu 3rd Street: Rs 1,650 per sq.ft (2024)
• Thulukanathamman Koil Street: Rs 1,100 per sq.ft (2024)
• Thulukanathamman Koil 1st Street: Rs 1,100 per sq.ft (2024)
• Thiruvengadam Nagar Extention: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Valli Kollai Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Valli Kollai Medu?

Valli Kollai Medu is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Koladi. It serves as a reference point for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Valli Kollai Medu?

The current guideline value of Valli Kollai Medu is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 560%, from Rs 250 per sq.ft to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Koladi?

The median guideline value in Koladi is Rs 1,100 per sq.ft, with Valli Kollai Medu's current value being above this median.

How is the stamp duty calculated for properties in Valli Kollai Medu?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at 7%.

Which office handles property registrations in Valli Kollai Medu?

The Chennai South Joint II Sub Registrar Office handles property registrations for Valli Kollai Medu, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.