Guideline Value for VV Koil Street

VV Koil Street guideline value

The current guideline value of VV Koil Street in Kadaperi village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of VV Koil Street has changed

The guideline value for VV Koil Street has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which later dropped to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that VV Koil Street's 2024 figure is below this median.

• V.V. Koil Street Kamaraj Nagar South: Rs 1,320 per sq.ft (2024)
• Yadaval Street: Rs 2,750 per sq.ft (2024)
• V.O. Chidambaram Pillai Street: Rs 1,650 per sq.ft (2024)
• Valluvar Gurukulam South Street: Rs 1,650 per sq.ft (2024)
• Vaigai Street: Rs 1,100 per sq.ft (2024)
• T.P. Sanatorium Ist Main Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in VV Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, leading to a combined total of Rs 1,18,800. 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 VV Koil Street?

VV Koil Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Kadaperi. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It also helps in determining the financial obligations associated with the purchase or sale of property in the area.

Frequently asked questions

What is the current guideline value of VV Koil Street?

The current guideline value of VV Koil Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for VV Koil Street?

VV Koil Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What is the registration office for VV Koil Street?

The registration office for VV Koil Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Kadaperi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.