Guideline Value for Kovilur Amman West street

Kovilur Amman West street guideline value

The current guideline value of Kovilur Amman West street is Rs 2,600 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village and falls under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Kovilur Amman West street has changed

The guideline value for Kovilur Amman West street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,400 per sq.ft in the 2012 revision. However, in the 2017 revision, it decreased to Rs 1,608 per sq.ft, before rising to Rs 2,400 per sq.ft again in 2023. The latest revision in 2024 has set the guideline value at Rs 2,600 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

From 2007 to 2012, the value increased by 300%, but then saw a decrease of 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, followed by an 8% increase from 2023 to 2024. 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 West street's 2024 figure is below this median.

• Kovilur Amman South Street: Rs 2,600 per sq.ft (2024)
• Kovilur Amman North 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 West 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, bringing the total fees together to Rs 2,34,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kovilur Amman West street?

The Kovilur Amman West 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 details.

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

The guideline value is a crucial factor when it comes to property transactions in Chindadripet. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Kovilur Amman West street?

The current guideline value of Kovilur Amman West 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 significantly, from Rs 600 per sq.ft in 2007 to Rs 2,600 per sq.ft in 2024, marking an overall increase of 333% over the years.

What is the land classification for Kovilur Amman West street?

The land classification for Kovilur Amman West street is Residential Class III Type - III.

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.

Which office handles property registrations for Kovilur Amman West street?

The Periamet Sub Registrar Office handles property registrations for Kovilur Amman West street, located at 1103, Poonamallee High Road, Chennai-600 003.