Guideline Value for VEERAPERUMAL KOIL STREET

Veeraperumal Koil Street guideline value

The current guideline value of Veeraperumal Koil Street is Rs 7,100 per sq.ft, effective from the 2024 revision. 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 Veeraperumal Koil Street has changed

The guideline value for Veeraperumal Koil Street has seen several revisions over the years. In 2002, the value was Rs 819 per sq.ft, which increased to Rs 910 per sq.ft in 2003, marking an increase of 11%. The value then surged significantly to Rs 6,500 per sq.ft in 2012, reflecting a remarkable increase of 614%. However, between 2012 and 2017, the value decreased to Rs 4,355 per sq.ft, a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, an increase of 63% from the previous figure.

It is important to note that there are no figures available for the revisions in 2007 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 767%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a guideline value for 2024, 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, placing Veeraperumal Koil Street's 2024 value below that median.

• Veerabadran Street: Rs 7,100 per sq.ft (2024)
• Vedhantha Desikar Street (Palathoppu): Rs 9,300 per sq.ft (2024)
• Vedhachala Garden: Rs 7,100 per sq.ft (2024)
• Vathiyar Chinna Pillai Street: Rs 3,300 per sq.ft (2024)
• Velayutha Raja Lane: Rs 7,100 per sq.ft (2024)
• Velayutha Raja Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Veeraperumal 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 is charged at 7%, which totals Rs 4,97,000, and the registration fee is charged at 2%, amounting to Rs 1,42,000. Together, the total costs for stamp duty and registration fee would be Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Veeraperumal Koil Street?

The Sub Registrar Office that covers Veeraperumal Koil Street is 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 plays a crucial role when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees at the time of registration.

When a property is registered, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Veeraperumal Koil Street?

The current guideline value of Veeraperumal Koil Street is Rs 7,100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 819 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 767%.

What are the other streets with similar guideline values in Mylapore?

Other streets in Mylapore with similar guideline values include Veerabadran Street and Vedhachala Garden, both at Rs 7,100 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Veeraperumal Koil Street?

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

How is the stamp duty calculated for properties in Mylapore?

Stamp duty in Mylapore is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.