Guideline Value for Kovur Vaidyanathan street

Kovur Vaidyanathan street guideline value

The current guideline value of Kovur Vaidyanathan street, located in Chindadripet village under the Periamet SRO, is Rs 2,600 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - III land classification.

How the guideline value of Kovur Vaidyanathan street has changed

Over the years, the guideline value of Kovur Vaidyanathan street has seen several revisions. The earliest recorded figure is from 2017, which was Rs 1,608 per sq.ft. This increased to Rs 2,400 per sq.ft in 2012, followed by a decrease to Rs 2,400 per sq.ft in 2017. The value then rose to Rs 2,600 per sq.ft in 2023, marking an increase of 49% from the 2017 figure. The most recent revision in 2024 saw the guideline value increase by 8% to Rs 2,600 per sq.ft.

The register has no figures for the years 2002 and 2003 for this street. The 2007 revision recorded a value of Rs 2,000 per sq.ft, which increased by 20% to Rs 2,400 per sq.ft in 2012. Overall, from 2007 to 2024, the guideline value has increased by 30%.

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. The median value for these streets is Rs 3,300 per sq.ft, making the current guideline value of Kovur Vaidyanathan street below that median.

• Kovilur Amman West street: Rs 2,600 per sq.ft (2024)
• 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)
• Krishna chetty street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kovur Vaidyanathan street

For a 1,000 sq.ft plot at the current rate of Rs 2,600 per sq.ft, the guideline value amounts to Rs 26,00,000. The stamp duty at 7% would be Rs 1,82,000, and the registration fee at 2% would be Rs 52,000, totaling Rs 2,34,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kovur Vaidyanathan street?

The Kovur Vaidyanathan 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 plays a crucial role during the registration of property transactions in Chindadripet. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that property transactions are documented accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kovur Vaidyanathan street?

The current guideline value of Kovur Vaidyanathan 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 1,608 per sq.ft in 2017 to Rs 2,600 per sq.ft in 2024, with various revisions in between, including a decrease in 2012 and an increase in 2023.

What are the stamp duty and registration fees for property in Kovur Vaidyanathan street?

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 Sub Registrar Office covers this street?

The Periamet Sub Registrar Office covers Kovur Vaidyanathan street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification of Kovur Vaidyanathan street?

Kovur Vaidyanathan street is classified under Residential Class III Type - III land classification.