Guideline Value

Corporate

Guideline Value for KOVALAN 3rd CROSS STREET

₹1650/sq.ft.

The guideline value for Kovalan 3rd Cross Street in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Kovalan 3rd Cross Street

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KOVALAN 3rd CROSS STREET guideline value

The current guideline value of KOVALAN 3rd 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 is classified as Residential Class IV Type - I.

How the guideline value of KOVALAN 3rd CROSS STREET has changed

The guideline value for KOVALAN 3rd CROSS STREET has undergone several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, which is a significant increase from Rs 1,005 per sq.ft in the 2017 revision. Between 2017 and 2024, there was a rise of 64% in the guideline value. Prior to that, the 2012 revision recorded a value of Rs 1,500 per sq.ft, indicating a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2023, 2007, 2003, and 2002 for this street. This lack of data reflects the changes in the property market and the need for periodic revisions to align with current market conditions.

Guideline values in Pallikaranai

Pallikaranai village has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of KOVALAN 3rd CROSS STREET.

Stamp duty and registration fee for property in KOVALAN 3rd CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these charges Rs 1,48,500. 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 these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers KOVALAN 3rd CROSS STREET?

KOVALAN 3rd CROSS STREET falls under 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Pallikaranai. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This helps to maintain transparency and fairness in property dealings, ensuring that all transactions are conducted at a value recognized by the government.

Frequently asked questions

What is the current guideline value of KOVALAN 3rd CROSS STREET?

The current guideline value of KOVALAN 3rd 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 to Rs 1,650 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024, and an overall increase of 10% from 2012 to 2024.

What are the other streets in Pallikaranai with the same guideline value?

Other streets in Pallikaranai that share the same guideline value of Rs 1,650 per sq.ft include Kovalan 1st Cross Street, Kovalan 4th Cross Street, Kovalan Cross Street, Kovalan St 1st Suduward, Kovalan Street, and Krishna Nagar.

Where can I find the Sub Registrar Office for KOVALAN 3rd CROSS STREET?

The Sub Registrar Office covering KOVALAN 3rd CROSS STREET is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for properties in KOVALAN 3rd CROSS STREET?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.