Guideline Value for PRIME COASTAL

Prime Coastal guideline value

The current guideline value of Prime Coastal, located in Koovathoor village under the Cheyyur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Prime Coastal has changed

Since the 2002 revision, the guideline value register has no figures for the years 2002, 2003, 2007, and 2012. The 2017 revision set the guideline value at Rs 335 per sq.ft, which increased to Rs 500 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision maintains this value at Rs 500 per sq.ft, showing no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49%. This consistency in the guideline value per sq.ft reflects stability in the valuation for Prime Coastal.

Guideline values in Koovathoor

In Koovathoor, there are five streets under the Cheyyur SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 502 per sq.ft. The median for these streets is Rs 500 per sq.ft, which matches the current value for Prime Coastal.

• Pavan Vedh Enclave: Rs 500 per sq.ft (2024)
• Golden Waterina: Rs 350 per sq.ft (2024)
• M.A.M.Nagar: Rs 300 per sq.ft (2024)
• கந்தசாமி நகர்: Rs 502 per sq.ft (2024)

Stamp duty and registration fee for property in Prime Coastal

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to 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 details.

Which Sub Registrar Office covers Prime Coastal?

The Sub Registrar Office covering Prime Coastal is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Koovathoor, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value ensures that the transaction is recorded accurately for taxation purposes. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Prime Coastal?

The current guideline value of Prime Coastal is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft from 2023 to 2024. From 2017 to 2023, it increased by 49% from Rs 335 per sq.ft to Rs 500 per sq.ft.

What are the other streets in Koovathoor with their guideline values?

Other streets in Koovathoor include Pavan Vedh Enclave at Rs 500 per sq.ft, Golden Waterina at Rs 350 per sq.ft, M.A.M.Nagar at Rs 300 per sq.ft, and கந்தசாமி நகர் at Rs 502 per sq.ft, all for the year 2024.

What is the stamp duty rate for properties in Prime Coastal?

The stamp duty rate for properties in Prime Coastal is 7% of the guideline value or sale price, whichever is higher. This is applicable during the registration of the property.

Where can I find the Sub Registrar Office for Prime Coastal?

The Sub Registrar Office for Prime Coastal is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone.