Guideline Value for 200 Feet Road

200 Feet Road guideline value

The current guideline value of 200 Feet Road in Kovilambakkam village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Commercial Class I Type - I.

How the guideline value of 200 Feet Road has changed

Over the years, the guideline value of 200 Feet Road has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in the 2017 revision. This was a drop of 33%. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes noted are only between the years where figures are available.

Guideline values in Kovilambakkam

Kovilambakkam has a total of 61 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,320 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing the 2024 guideline value of 200 Feet Road above this median.

• Viduthalai Nagar: Rs 4,070 per sq.ft (2024)
• Vadakku Pattu Road: Rs 2,200 per sq.ft (2024)
• Tranquil Acres: Rs 4,070 per sq.ft (2024)
• Thiruvin Nagar: Rs 4,070 per sq.ft (2024)
• Thiruvenkandam Nagar: Rs 2,160 per sq.ft (2024)
• Thiru Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in 200 Feet Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers 200 Feet Road?

The 200 Feet Road is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kovilambakkam, as it determines the minimum value at which a property can be registered. Buyers must pay stamp duty and registration fees based on the guideline value, ensuring that the property is officially recognized and recorded in government records.

When a property is sold, the seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of 200 Feet Road?

The current guideline value of 200 Feet Road in Kovilambakkam is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for 200 Feet Road?

The stamp duty for a property valued at Rs 44,00,000 is Rs 3,08,000, and the registration fee is Rs 88,000, totaling Rs 3,96,000 for a 1,000 sq.ft plot.

Which office handles registrations for properties on 200 Feet Road?

The Pallavaram Sub Registrar Office handles registrations for properties on 200 Feet Road, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value serves as the minimum value for property registration, determining the stamp duty and registration fees payable during a transaction. It helps ensure that property sales are recorded accurately and legally.