Guideline Value for Spring Water

Spring Water guideline value

The current guideline value of Spring Water is Rs 1,500 per sq.ft, as per the 2023 revision. This area is located in Kovalam village, under the Thiruporur SRO, and is classified as Residential Special Type - I.

How the guideline value of Spring Water has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. However, in the 2017 revision, this value decreased to Rs 1,005 per sq.ft, reflecting a change of -33%. The most recent revision in 2023 saw the guideline value increase to Rs 1,500 per sq.ft again, resulting in a significant increase of +49% from the 2017 figure.

Overall, from 2012 to 2023, the guideline value has remained unchanged at Rs 1,500 per sq.ft. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Kovalam

Currently, there are no specific village figures available for Kovalam. Spring Water is one of the streets within this village, and there are no other streets in Kovalam under the Thiruporur SRO listed.

Stamp duty and registration fee for property in Spring Water

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator to estimate your costs.

Which Sub Registrar Office covers Spring Water?

The Sub Registrar Office that covers Spring Water is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kovalam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate fees during the property transfer process.

Frequently asked questions

What is the current guideline value of Spring Water?

The current guideline value of Spring Water is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value of Spring Water was Rs 1,500 per sq.ft in 2012, decreased to Rs 1,005 per sq.ft in 2017, and returned to Rs 1,500 per sq.ft in 2023.

What is the land classification of Spring Water?

Spring Water is classified as Residential Special Type - I according to the registration records.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for property in Spring Water?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot, the total costs including stamp duty and registration fees can be calculated using the guideline value.