Guideline Value for Kovilur Amman Koil 1st lane

Kovilur Amman Koil 1st lane guideline value

The current guideline value of Kovilur Amman Koil 1st lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This lane is located in Chindadripet village under the Periamet Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Kovilur Amman Koil 1st lane has changed

The guideline value for Kovilur Amman Koil 1st lane has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 3,000 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Chindadripet

In Chindadripet village, there are 98 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,500 to Rs 18,100 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Kovilur Amman Koil 1st lane.

• Kovilur Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Kovilur Amman North street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman South Street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman West street: Rs 2,600 per sq.ft (2024)
• Kovur Vaidyanathan street: Rs 2,600 per sq.ft (2024)
• Krishna chetty street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kovilur Amman Koil 1st lane

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 Kovilur Amman Koil 1st lane?

The Kovilur Amman Koil 1st lane falls under the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chindadripet. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value according to government standards.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kovilur Amman Koil 1st lane?

The current guideline value of Kovilur Amman Koil 1st lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 450%.

What is the stamp duty rate for properties in Kovilur Amman Koil 1st lane?

The stamp duty rate for properties in Kovilur Amman Koil 1st lane is 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Kovilur Amman Koil 1st lane?

The Periamet Sub Registrar Office handles property registrations for Kovilur Amman Koil 1st lane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Kovilur Amman Koil 1st lane?

Kovilur Amman Koil 1st lane is classified as Residential Class III Type - I.