Guideline Value for Kovilur Amman Koil Street

Kovilur Amman Koil Street guideline value

The current guideline value of Kovilur Amman Koil Street in Chindadripet village, under the Periamet SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Kovilur Amman Koil Street has changed

The guideline value for Kovilur Amman Koil Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, there was a decrease to Rs 2,010 per sq.ft, a drop of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The revisions for the years 2002 and 2003 do not have any figures recorded for Kovilur Amman Koil Street.

Guideline values in Chindadripet

In Chindadripet, 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 value is Rs 3,300 per sq.ft, which is the same as the guideline value for Kovilur Amman Koil Street. Below are the guideline values for other streets in Chindadripet:

• Kovilur Amman Koil 1st lane: 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to 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. Please note that the 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 further calculations.

Which Sub Registrar Office covers Kovilur Amman Koil Street?

The Kovilur Amman Koil Street is covered by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Chindadripet. It serves as a benchmark for determining the minimum value at which properties can be sold or bought, ensuring that the transaction is recorded accurately for tax purposes.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency in the property market and helps in maintaining a standard valuation across different properties.

Frequently asked questions

What is the current guideline value of Kovilur Amman Koil Street?

The current guideline value of Kovilur Amman Koil Street 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 from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 450% over the years.

What is the land classification for Kovilur Amman Koil Street?

Kovilur Amman Koil Street is classified as Residential Class III Type - I.

Where can I find the registration office for Kovilur Amman Koil Street?

The registration office for Kovilur Amman Koil Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Kovilur Amman Koil Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.