Guideline Value for Coovum River Road

Coovum River Road guideline value

The current guideline value of Coovum River Road is Rs 3,200 per sq.ft, effective from 1 July 2024. This road is located in Chindadripet village under the Periamet SRO, and it falls under the Residential Class V Type - II land classification.

How the guideline value of Coovum River Road has changed

The guideline value for Coovum River Road has seen several revisions over the years. In the 2007 revision, the value was Rs 900 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in the 2012 revision. However, it then decreased to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 3,000 per sq.ft, and the latest revision in 2024 set the value at Rs 3,200 per sq.ft. There are no figures available for the years 2002 and 2003 for this street.

From 2007 to 2012, the value increased by 233%, but then it decreased by 33% from 2012 to 2017. The value saw a substantial rise of 49% from 2017 to 2023, and it has increased by 7% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 256%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, making Coovum River Road's 2024 figure of Rs 3,200 per sq.ft below the median.

• Cox colony: Rs 2,900 per sq.ft (2024)
• Cox street: Rs 2,900 per sq.ft (2024)
• Dams Road: Rs 11,000 per sq.ft (2024)
• Devaraj sarang lane: Rs 3,300 per sq.ft (2024)
• Chinna Kolandathai street: Rs 3,300 per sq.ft (2024)
• Dharmaraja koil street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Coovum River Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total to Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Coovum River Road?

The Sub Registrar Office that covers Coovum River Road is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Chindadripet, as it determines the minimum value at which a property can be registered. When buying or selling property, 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 current guideline value, as it impacts the overall cost of the transaction. Ensuring that the sale price is at least equal to the guideline value is necessary for a smooth registration process.

Frequently asked questions

What is the current guideline value of Coovum River Road?

The current guideline value of Coovum River Road is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 3,200 per sq.ft in 2024, with several revisions in between, including a decrease from 2012 to 2017.

What are the guideline values of other streets in Chindadripet?

Other streets in Chindadripet have varying guideline values, with rates ranging from Rs 2,500 to Rs 18,100 per sq.ft. For example, Cox colony and Cox street are both valued at Rs 2,900 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Coovum River Road?

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Where is the Sub Registrar Office for Coovum River Road located?

The Sub Registrar Office for Coovum River Road is located at 1103, Poonamallee High Road, Chennai-600 003, under the Periamet registration zone.