Guideline Value for Kovalam Road 2nd Cross Street

Kovalam Road 2nd Cross Street guideline value

The current guideline value of Kovalam Road 2nd Cross Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village, under the Thirukazhukundram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kovalam Road 2nd Cross Street has changed

The guideline value for Kovalam Road 2nd Cross Street has undergone several revisions over the years. The earliest recorded revision available is from 2012, where the value was Rs 850 per sq.ft. This was followed by a decrease to Rs 569 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase to Rs 1,100 per sq.ft, marking a 93% rise. The most recent revision in 2024 set the guideline value at Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has increased by 42%.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft. The median value is Rs 935 per sq.ft, making the guideline value of Kovalam Road 2nd Cross Street above this median.

• Kovalam Road 1st Cross Street: Rs 1,210 per sq.ft (2024)
• Kovalam Street G.R.T to Pallavan Silai (Kovalam Salai(West part)3800 Mtr Highway): Rs 1,100 per sq.ft (2024)
• Kovalam Street Pallavan Silai to Govt.Hospital (Pondicheri way Road): Rs 1,100 per sq.ft (2024)
• Kovalam Street Pallavan Silai to Next T.T.D.C (Chennai way Road): Rs 1,325 per sq.ft (2024)
• Kovalam Street Town Panchayat to G.R.T (Kovalam Salai(West part)3800 Mtr Highway): Rs 1,485 per sq.ft (2024)
• Kovalam Street T.T.D.C to Pattipulam: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Kovalam Road 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total charges to Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kovalam Road 2nd Cross Street?

The Kovalam Road 2nd Cross Street falls under the jurisdiction of the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mamallapuram. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is essential for ensuring that the transaction is recorded accurately and legally.

When selling property, the guideline value helps establish a baseline for the sale price. It ensures that both buyers and sellers are aware of the minimum value recognized by the government, which aids in fair transactions.

Frequently asked questions

What is the current guideline value of Kovalam Road 2nd Cross Street?

The current guideline value of Kovalam Road 2nd Cross Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 1,210 per sq.ft in 2024, with various revisions in between. Notably, it increased by 93% from 2017 to 2023.

What is the land classification of Kovalam Road 2nd Cross Street?

Kovalam Road 2nd Cross Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Kovalam Road 2nd Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mamallapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,10,000, the stamp duty would be 7% of that amount.