Guideline Value for VALLIKOLLAI MEDU 3RD STREET

Vallikollai Medu 3rd Street guideline value

The current guideline value of Vallikollai Medu 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Koladi village under the Chennai South Joint II SRO and falls under Residential Class I Type - II land classification.

How the guideline value of Vallikollai Medu 3rd Street has changed

The guideline value for Vallikollai Medu 3rd Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,650 per sq.ft in the 2024 revision. The change from 2017 to 2023 was an increase of 49%, while the change from 2023 to 2024 was a 10% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 indicates a 10% increase, showing a gradual rise in the guideline value over the years.

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, with a median value of Rs 1,100 per sq.ft. The guideline value of Vallikollai Medu 3rd Street is above this median, reflecting its relative standing within the village.

• Vallikollai Medu 2nd Street: Rs 1,650 per sq.ft (2024)
• Vallikollai Medu 1st Street: Rs 1,650 per sq.ft (2024)
• Valli Kollai Medu: 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 Vallikollai Medu 3rd Street

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 amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vallikollai Medu 3rd Street?

The Vallikollai Medu 3rd Street falls under the jurisdiction of 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 plays a crucial role in the registration process of property transactions in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of properties.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately in the official registers. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vallikollai Medu 3rd Street?

The current guideline value of Vallikollai Medu 3rd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Vallikollai Medu 3rd Street?

Vallikollai Medu 3rd Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Vallikollai Medu 3rd Street?

The Sub Registrar Office that covers Vallikollai Medu 3rd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for properties in Vallikollai Medu 3rd Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total costs would amount to Rs 1,48,500.