Guideline Value for Kovalan Street

Kovalan Street guideline value

The current guideline value of Kovalan Street is Rs 1,500 per sq.ft as per the 2023 revision. This street is located in Vandalur village under the Gooduvancheri SRO, with a land classification of Residential Special Type - I.

How the guideline value of Kovalan Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This remained unchanged until the 2017 revision, where the value decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%.

Overall, from the 2012 revision to the 2023 revision, the guideline value has remained the same at Rs 1,500 per sq.ft. The register has no figures for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Vandalur

Currently, there are no specific village figures available for Vandalur. Kovalan Street is classified under the Gooduvancheri SRO, and there are no other streets in Vandalur listed with guideline values.

Stamp duty and registration fee for property in Kovalan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, resulting in a total of Rs 1,35,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kovalan Street?

The Sub Registrar Office that covers Kovalan Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Vandalur. It is used to determine the stamp duty and registration fees applicable to a property transaction, ensuring that both buyers and sellers are aware of the financial obligations involved.

When a property is bought or sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kovalan Street?

The current guideline value of Kovalan Street is Rs 1,500 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, a decrease of 33%. It then increased back to Rs 1,500 per sq.ft in 2023, reflecting a rise of 49% from the 2017 revision.

What is the land classification for Kovalan Street?

Kovalan Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vandalur?

Stamp duty for properties in Vandalur is calculated based on the higher of the guideline value or the sale price. This ensures that the appropriate duty is paid during the registration process.