Guideline Value for THE GROVE PHASE-II

The Grove Phase-II guideline value

The current guideline value of The Grove Phase-II is Rs 2,000 per sq.ft. This area is located in Kovalam village, under the jurisdiction of the Thiruporur SRO, with a land classification of Mixed Type - II.

How the guideline value of The Grove Phase-II has changed

The guideline value for The Grove Phase-II has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. However, in the 2017 revision, this value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The most recent revision in 2023 saw a significant increase, bringing the guideline value back up to Rs 2,000 per sq.ft, which represents a 49% increase from 2017.

Overall, from the 2012 revision to the 2023 revision, the guideline value has remained unchanged at Rs 2,000 per sq.ft. It is important to note that there are no figures available 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. The Grove Phase-II is a part of the Thiruporur SRO, which oversees the registration of properties in this area.

Stamp duty and registration fee for property in The Grove Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total charges to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers The Grove Phase-II?

The Grove Phase-II is covered by 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 is a crucial factor when registering property transactions in Kovalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for The Grove Phase-II?

The current guideline value for The Grove Phase-II is Rs 2,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased back to Rs 2,000 per sq.ft in 2023.

What is the stamp duty rate for property in The Grove Phase-II?

The stamp duty rate for property transactions in The Grove Phase-II is 7% of the higher of the guideline value or sale price.

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.

Is there any guideline value figure for the year 2024?

No, the register has no figure for the year 2024 for The Grove Phase-II.