Guideline Value for Kovalam Street Town Panchayat To G.r.t (Kovalam Salai(West Part)3800 Mtr Highway)

Kovalam Street Town Panchayat to G.R.T (Kovalam Salai(West part)3800 Mtr Highway) guideline value

The current guideline value for Kovalam Street Town Panchayat to G.R.T (Kovalam Salai(West part)3800 Mtr Highway) is Rs 1,485 per sq.ft, effective from 1 July 2024. This area is located in Mamallapuram village, under the Thirukazhukundram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Kovalam Street Town Panchayat to G.R.T (Kovalam Salai(West part)3800 Mtr Highway) has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,350 per sq.ft, which was then reduced to Rs 904 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,350 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,485 per sq.ft, reflecting a 10% rise from the previous year.

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

Guideline values in Mamallapuram

Mamallapuram has a total of 133 streets under the Thirukazhukundram SRO, with guideline values ranging from Rs 550 to Rs 1,650 per sq.ft. The median guideline value in this area is Rs 935 per sq.ft, placing the 2024 figure for Kovalam Street Town Panchayat to G.R.T above this median.

• Kovalam Street Pallavan Silai to Next T.T.D.C (Chennai way Road): Rs 1,325 per sq.ft (2024)
• Kovalam Street T.T.D.C to Pattipulam: Rs 1,210 per sq.ft (2024)
• Kovalam Street Pallavan Silai to Govt.Hospital (Pondicheri way Road): Rs 1,100 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 Road 2nd Cross Street: Rs 1,210 per sq.ft (2024)
• Kovalam Road 1st Cross Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Kovalam Street Town Panchayat to G.R.T (Kovalam Salai(West part)3800 Mtr Highway)

For a 1,000 sq.ft plot at the current rate of Rs 1,485 per sq.ft, the guideline value amounts to Rs 14,85,000. The stamp duty at 7% would be Rs 1,03,950, and the registration fee at 2% would be Rs 29,700, totaling Rs 1,33,650. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kovalam Street Town Panchayat to G.R.T (Kovalam Salai(West part)3800 Mtr Highway)?

The Sub Registrar Office that covers Kovalam Street Town Panchayat to G.R.T is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Mamallapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid, ensuring that these charges are based on the official value set by the government.

When buying or selling property, it is essential to consider the guideline value, as it may influence the overall costs involved in the transaction. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can affect the total amount payable at the time of registration.

Frequently asked questions

What is the current guideline value for Kovalam Street Town Panchayat to G.R.T?

The current guideline value for Kovalam Street Town Panchayat to G.R.T (Kovalam Salai(West part)3800 Mtr Highway) is Rs 1,485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,350 per sq.ft in 2012 to Rs 904 per sq.ft in 2017, then increased to Rs 1,350 per sq.ft in 2023, and finally to Rs 1,485 per sq.ft in 2024.

What is the land classification for this area?

The land classification for Kovalam Street Town Panchayat to G.R.T is Commercial Class I Type - II.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 14,85,000, the stamp duty would be Rs 1,03,950 and the registration fee would be Rs 29,700, totaling Rs 1,33,650.

Which office handles registrations for this property?

The Thirukazhukundram Sub Registrar Office handles registrations for properties in Kovalam Street Town Panchayat to G.R.T, located at Thiruchengode - 637 211, Chengalpattu registration zone.