Guideline Value for Chamundeswari kovil 1st street

Chamundeswari kovil 1st street guideline value

The current guideline value of Chamundeswari kovil 1st street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chamundeswari kovil 1st street has changed

Looking at the historical revisions, the guideline value for Chamundeswari kovil 1st street has seen several changes. The 2012 revision set the value at Rs 6,500 per sq.ft, which then decreased to Rs 4,355 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 6,500 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 7,100 per sq.ft, marking a 9% rise from the previous year.

It is worth noting that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value among these streets is Rs 7,100 per sq.ft, which is equal to the guideline value of Chamundeswari kovil 1st street.

• Chamundeswari kovil 2nd street: Rs 7,100 per sq.ft (2024)
• Chamundeswari kovil 3rd street: Rs 7,100 per sq.ft (2024)
• Chamundeswari kovil 4th street: Rs 7,100 per sq.ft (2024)
• Chamundeswari kovil 5th street: Rs 7,100 per sq.ft (2024)
• Chandira banu street: Rs 10,100 per sq.ft (2024)
• Chari Street: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chamundeswari kovil 1st street

For a property measuring 1,000 sq.ft 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, charged at 7%, would be Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Therefore, the total cost for stamp duty and registration fees would be Rs 6,39,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chamundeswari kovil 1st street?

The Sub Registrar Office that covers Chamundeswari kovil 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chamundeswari kovil 1st street?

The current guideline value of Chamundeswari kovil 1st street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then increased to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,100 per sq.ft in 2024.

What is the land classification for Chamundeswari kovil 1st street?

Chamundeswari kovil 1st street is classified as Residential Class II Type - I.

Which Sub Registrar Office is responsible for this street?

The Periamet Sub Registrar Office is responsible for Chamundeswari kovil 1st street, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Egmore?

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