Guideline Value for KOVALAN 4TH CROSS STREET

Kovalan 4th Cross Street guideline value

The current guideline value of Kovalan 4th Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Kovalan 4th Cross Street has changed

The guideline value for Kovalan 4th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 1,650 per sq.ft, representing a rise of 64%.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, 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 2024 figure for Kovalan 4th Cross Street.

• KOVALAN 3rd CROSS STREET: Rs 1,650 per sq.ft (2024)
• Kovalan Cross Street: Rs 1,650 per sq.ft (2024)
• Kovalan 1st 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 4th 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, totaling 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kovalan 4th Cross Street?

The Sub Registrar Office covering Kovalan 4th 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 a crucial factor in the registration process when buying or selling property in Pallikaranai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When you proceed with a property transaction, the guideline value will influence the stamp duty and registration fees that are applicable. Buyers must be aware of these values to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value for Kovalan 4th Cross Street?

The current guideline value for Kovalan 4th 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, then increased to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, the value increased by 10%.

Where can I find the Sub Registrar Office for Kovalan 4th Cross Street?

The Sub Registrar Office for Kovalan 4th 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.

What is the stamp duty for a property on Kovalan 4th Cross Street?

The stamp duty for a property valued at Rs 16,50,000 on Kovalan 4th Cross Street would be Rs 1,15,500, calculated at 7% of the guideline value.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for property transactions. It also affects the stamp duty and registration fees that buyers must pay during the registration process.