Guideline Value for Kovilanjery Road

Kovilanjery Road guideline value

The current guideline value of Kovilanjery Road in Madambakkam village is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Class II Type - II.

How the guideline value of Kovilanjery Road has changed

The guideline value for Kovilanjery Road has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Kovilanjery Road's 2024 figure below that median.

• Kovilanjery Link Road: Rs 1,300 per sq.ft (2024)
• Komathy Star City: Rs 2,750 per sq.ft (2024)
• Kattabomman Street: Rs 1,300 per sq.ft (2024)
• Kaspapuram Road: Rs 1,300 per sq.ft (2024)
• Kumarasamy Nagar: Rs 2,400 per sq.ft (2024)
• Kumarasamy Nagar 1st Cross Road: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kovilanjery Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kovilanjery Road?

The Sub Registrar Office covering Kovilanjery Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the actual sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kovilanjery Road?

The current guideline value of Kovilanjery Road is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2012 to 2023, and then increased to Rs 1,300 per sq.ft in 2024, marking an 8% increase from the previous year.

What is the land classification for Kovilanjery Road?

Kovilanjery Road is classified as Residential Class II Type - II under the guideline value register.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Kovilanjery Road?

Stamp duty is calculated on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.