Guideline Value for VAZHAVANTHAMMAN KOIL STREET EXTENSION

Vazhavanthamman Koil Street Extension guideline value

The current guideline value of Vazhavanthamman Koil Street Extension is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vazhavanthamman Koil Street Extension has changed

The guideline value for Vazhavanthamman Koil Street Extension has undergone significant changes over the years. The register shows that in the 2017 revision, the value was Rs 1,005 per sq.ft. With the latest revision in 2024, the value increased to Rs 1,700 per sq.ft, marking a notable increase of 69% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street. Thus, the only revisions with figures are from 2017 and 2024.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Vazhavanthamman Koil Street Extension's 2024 figure of Rs 1,700 per sq.ft is below this median.

• Vazhavanthamman Koil Street: Rs 1,700 per sq.ft (2024)
• Vazhavanthamman Koil Cross Street (South Part): Rs 1,700 per sq.ft (2024)
• Varadharajan Street (Grama Nedunchalai 19th Cross Street): Rs 2,200 per sq.ft (2024)
• Velu Street: Rs 2,200 per sq.ft (2024)
• Velu Street Extension: Rs 2,200 per sq.ft (2024)
• Velu Street (Near Canal): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vazhavanthamman Koil Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty is charged at 7%, which totals Rs 1,19,000, and the registration fee at 2% amounts to Rs 34,000. Together, the total cost for stamp duty and registration fee would be Rs 1,53,000. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Vazhavanthamman Koil Street Extension?

The Vazhavanthamman Koil Street Extension falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during property registration in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a value that reflects the current market conditions as established by the Registration Department. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vazhavanthamman Koil Street Extension?

The current guideline value of Vazhavanthamman Koil Street Extension is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, representing a 69% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 for this street.

What is the classification of land in Vazhavanthamman Koil Street Extension?

The land classification for Vazhavanthamman Koil Street Extension is Residential Class IV Type - I. This classification helps determine the appropriate guideline value for the area.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles the registration of properties in the area.