Guideline Value for Kovindasamy Street in R.V. Nagar

Kovindasamy Street in R.V. Nagar guideline value

The current guideline value of Kovindasamy Street in R.V. Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kovindasamy Street in R.V. Nagar has changed

The guideline value for Kovindasamy Street underwent its first recorded revision in 2012, when it was set at Rs 2,500 per sq.ft. The next revision occurred in 2024, raising the value to Rs 2,700 per sq.ft, which represents an increase of 8% from the 2012 figure. The register has no figures for the years 2003, 2007, 2017, and 2023 for this street.

In summary, the only revisions with recorded figures are from 2012 and 2024. The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, making the 2024 figure for Kovindasamy Street equal to this median.

• Koyyathoppu 1st Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 2nd Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 3rd Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 4th Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 5th Street: Rs 2,700 per sq.ft (2024)
• Koyyathoppu 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Kovindasamy Street in R.V. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. Note that the 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 detailed calculations.

Which Sub Registrar Office covers Kovindasamy Street in R.V. Nagar?

The Sub Registrar Office that covers Kovindasamy Street in R.V. Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kovindasamy Street in R.V. Nagar?

The current guideline value of Kovindasamy Street in R.V. Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

What was the guideline value in 2012?

The guideline value of Kovindasamy Street in R.V. Nagar was Rs 2,500 per sq.ft in the 2012 revision.

How much has the guideline value changed since 2012?

The guideline value increased by 8% from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024.

What is the median guideline value for streets in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft, which is the same as the current guideline value for Kovindasamy Street.

Where can I find the Sub Registrar Office for Kovindasamy Street?

The Madhavaram Sub Registrar Office, which covers Kovindasamy Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.