Guideline Value for VEERAPATHIRASWAMY KOIL STREET

Veerapathiraswamy Koil Street guideline value

The current guideline value of Veerapathiraswamy Koil Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Salavakkam village, under the Salavakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Veerapathiraswamy Koil Street has changed

The guideline value of Veerapathiraswamy Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft in 2023. The 2024 revision has maintained this value, resulting in no change from the previous year.

There are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft. The median value of these streets is Rs 150 per sq.ft, placing Veerapathiraswamy Koil Street above this median with its current value of Rs 200 per sq.ft.

• Venkateswara Nagar Phase- I: Rs 200 per sq.ft (2024)
• Thottakara Street: Rs 175 per sq.ft (2024)
• Yadavar Street: Rs 175 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 200 per sq.ft (2024)
• Sindhu Nagar Phase-I: Rs 100 per sq.ft (2024)
• Sindhu Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Veerapathiraswamy Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 Veerapathiraswamy Koil Street?

The Sub Registrar Office that covers Veerapathiraswamy Koil Street is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Salavakkam, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value serves as a reference point for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Veerapathiraswamy Koil Street?

The current guideline value of Veerapathiraswamy Koil Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent being Rs 200 per sq.ft in 2024. It was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 200 per sq.ft, the stamp duty would be Rs 14,000, and the registration fee would be Rs 4,000, totaling Rs 18,000 for a 1,000 sq.ft plot.

Which office handles property registrations for Veerapathiraswamy Koil Street?

The Salavakkam Sub Registrar Office handles property registrations for Veerapathiraswamy Koil Street, located at 2/1a, Thottakkara Street, Salavakkam.

What is the land classification for Veerapathiraswamy Koil Street?

Veerapathiraswamy Koil Street is classified as Residential Class I Type - I, indicating its designation for residential use.