Guideline Value for The Grove

The Grove guideline value

The current guideline value of The Grove in Kovalam village, under the Thiruporur SRO, is Rs 1,600 per sq.ft as per the 2023 revision. The land classification for this area is Mixed Type - I.

How the guideline value of The Grove has changed

The guideline value for The Grove has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft, marking a drop of 33%. However, in the 2023 revision, the guideline value increased significantly to Rs 1,600 per sq.ft again, reflecting a rise of 49% from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, the guideline value has remained the same at Rs 1,600 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. The Grove is situated within this village, and there are no other streets in Kovalam under the Thiruporur SRO listed at this time.

Stamp duty and registration fee for property in The Grove

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers The Grove?

The Grove falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovalam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects a fair value for the property being transacted.

Frequently asked questions

What is the current guideline value of The Grove?

The current guideline value of The Grove is Rs 1,600 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, and then back to Rs 1,600 per sq.ft in 2023. Overall, it has remained the same from 2012 to 2023.

What are the stamp duty and registration fees for property in The Grove?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would be Rs 1,44,000, which includes Rs 1,12,000 for stamp duty and Rs 32,000 for registration fees.

Which office handles the registration for The Grove?

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

What is the land classification for The Grove?

The land classification for The Grove is Mixed Type - I, indicating a diverse use of land in the area.