Guideline Value for East coovam road / Street

East coovam road / Street guideline value

The current guideline value of East Coovam Road / Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO, classified as Residential Class I Type - II.

How the guideline value of East coovam road / Street has changed

The guideline value for East Coovam Road / Street has undergone several revisions over the years. The earliest recorded figure is from 2007, set at Rs 1,085 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 223%. However, between 2012 and 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the guideline value at Rs 3,800 per sq.ft, which is a 9% increase from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 250%.

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, placing East Coovam Road / Street above this median at Rs 3,800 per sq.ft.

• Dr.Govindan street: Rs 4,400 per sq.ft (2024)
• Dharmaraja koil street: Rs 5,500 per sq.ft (2024)
• Fire Station officialsResidence: Rs 2,600 per sq.ft (2024)
• Devaraj sarang lane: Rs 3,300 per sq.ft (2024)
• Dams Road: Rs 11,000 per sq.ft (2024)
• Cox street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in East coovam road / Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty, charged at 7%, amounts to Rs 2,66,000, while the registration fee at 2% is Rs 76,000. Together, the total cost for these fees would be Rs 3,42,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers East coovam road / Street?

The East Coovam Road / Street falls under 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 Chindadripet

The guideline value is a crucial factor in property transactions in Chindadripet. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's assessed value, which is essential for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of East Coovam Road / Street?

The current guideline value of East Coovam Road / Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,085 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 250% over the years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office handles registrations for East Coovam Road / Street?

The Periamet Sub Registrar Office handles registrations for East Coovam Road / Street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for East Coovam Road / Street?

East Coovam Road / Street is classified as Residential Class I Type - II.