Guideline Value for KOVALAN 1ST CROSS STREET

Kovalan 1st Cross Street guideline value

The current guideline value of Kovalan 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Kovalan 1st Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased by 33% to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2024 revision saw an increase of 64%, bringing the value back up to Rs 1,650 per sq.ft.

Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is the same as the current value for Kovalan 1st Cross Street.

• KOVALAN 3rd CROSS STREET: Rs 1,650 per sq.ft (2024)
• Kovalan 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Kovalan Cross Street: Rs 1,650 per sq.ft (2024)
• Kovalan St 1st Suduward: Rs 1,650 per sq.ft (2024)
• Kovalan Street: Rs 1,650 per sq.ft (2024)
• Krishna Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Kovalan 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. Please note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kovalan 1st Cross Street?

The Sub Registrar Office that covers Kovalan 1st Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an important reference point when registering property transactions in Pallikaranai. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions are recorded at a fair value, preventing undervaluation. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kovalan 1st Cross Street?

The current guideline value of Kovalan 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,650 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What are the stamp duty and registration fees for property in Kovalan 1st Cross Street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the higher of the guideline value and the sale price.

Which office handles property registrations for Kovalan 1st Cross Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Kovalan 1st Cross Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Kovalan 1st Cross Street?

Kovalan 1st Cross Street falls under the Residential Class IV Type - I land classification. This classification is important for determining the applicable guidelines and regulations for property transactions in the area.