Guideline Value

Corporate

Guideline Value for KOVALAN STREET

₹1650/sq.ft.

The guideline value for Kovalan Street in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. 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 ₹1500 /sq.ft.
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 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹126 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹107 /sq.ft.
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 Street

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Kovalan Street guideline value

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

How the guideline value of Kovalan Street has changed

The guideline value of Kovalan Street has experienced several revisions over the years. In 2002, the value was Rs 107 per sq.ft, which increased to Rs 126 per sq.ft in 2003. The subsequent revisions saw significant changes, with the value rising to Rs 400 per sq.ft in 2007, then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017 before increasing to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 1,650 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the value increased by 18%. The jump from 2003 to 2007 was 217%, followed by a 275% rise from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value increased by 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,442%.

Guideline values in Pallikaranai

Pallikaranai village 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 value of these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Kovalan Street.

Stamp duty and registration fee for property in Kovalan 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kovalan Street?

Kovalan Street is covered by 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 additional information.

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

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

When registering a property, the guideline value is compared to the sale price. The higher amount is used to calculate the stamp duty, which is a mandatory cost in the registration process. Understanding the guideline value helps in budgeting for these expenses effectively.

Frequently asked questions

What is the current guideline value of Kovalan Street?

The current guideline value of Kovalan Street is Rs 1,650 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 107 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and one decrease in between.

What is the registration office for Kovalan Street?

Kovalan Street is registered 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.

How is stamp duty calculated for property in Kovalan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For Kovalan Street, the current guideline value is Rs 1,650 per sq.ft.

Are there other streets in Pallikaranai with the same guideline value?

Yes, several other streets in Pallikaranai also have a guideline value of Rs 1,650 per sq.ft for the year 2024, including Kovalan St 1st Suduward, Kovalan Cross Street, and others.