Guideline Value for Kovilur Amman South Street

Kovilur Amman South Street guideline value

The current guideline value of Kovilur Amman South Street is Rs 2,600 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village under the Periamet SRO and is classified as Residential Class III Type - III.

How the guideline value of Kovilur Amman South Street has changed

Over the years, the guideline value of Kovilur Amman South Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in 2012. However, this figure dropped to Rs 1,608 per sq.ft in 2017, showing a decrease of 33%. The value then rose to Rs 2,400 per sq.ft in 2023, before reaching the current rate of Rs 2,600 per sq.ft in 2024, marking an increase of 8% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 333%.

Guideline values in Chindadripet

In Chindadripet village, there are 98 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. Kovilur Amman South Street's 2024 guideline value is below this median.

• Kovilur Amman North street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman West street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman Koil Street: Rs 3,300 per sq.ft (2024)
• Kovilur Amman Koil 1st lane: Rs 3,300 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 South Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,600 per sq.ft, the total guideline value would be Rs 26,00,000. The stamp duty at 7% would amount to Rs 1,82,000, and the registration fee at 2% would be Rs 52,000, making the total cost for these fees Rs 2,34,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kovilur Amman South Street?

The Kovilur Amman South Street 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 during the registration of property transactions in Chindadripet. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the official value of the property, which can influence negotiations and final sale prices. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

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

The current guideline value of Kovilur Amman South Street is Rs 2,600 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 2,600 per sq.ft in 2024, reflecting an overall increase of 333% over the years.

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

For a property valued at Rs 26,00,000, the stamp duty would be Rs 1,82,000 and the registration fee would be Rs 52,000, totaling Rs 2,34,000.

Where is the Sub Registrar Office for Kovilur Amman South Street located?

The Sub Registrar Office covering Kovilur Amman South Street is located at 1103, Poonamallee High Road, Chennai-600 003.

What is the median guideline value in Chindadripet?

The median guideline value in Chindadripet is Rs 3,300 per sq.ft, while Kovilur Amman South Street's 2024 value is below this median.