Guideline Value for West Coovam rive rRoad

West Coovam rive rRoad guideline value

The current guideline value of West Coovam rive rRoad is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Chindadripet village, under the Periamet Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of West Coovam rive rRoad has changed

The guideline value for West Coovam rive rRoad has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 3,000 per sq.ft. This increased to Rs 4,500 per sq.ft in 2012, but then saw a decrease to Rs 3,015 per sq.ft in 2017. Following that, the value rose significantly to Rs 4,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,900 per sq.ft. The changes between these revisions include a 50% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 9% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 63%.

Guideline values in Chindadripet

In Chindadripet, 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, placing West Coovam rive rRoad's 2024 figure above that median.

• Wallers Road Road: Rs 16,500 per sq.ft (2024)
• wallers Road Ist Lane: Rs 13,200 per sq.ft (2024)
• wallers Road IIndLane: Rs 13,200 per sq.ft (2024)
• Wallers Road IIIrd Lane: Rs 13,200 per sq.ft (2024)
• Venkatesa Gramani Street: Rs 3,800 per sq.ft (2024)
• Veeramman Koil Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in West Coovam rive rRoad

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. 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 West Coovam rive rRoad?

The Sub Registrar Office covering West Coovam rive rRoad is 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 is a critical factor during the registration process when buying or selling property in Chindadripet. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

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 revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of West Coovam rive rRoad?

The current guideline value of West Coovam rive rRoad is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent increase from Rs 4,500 per sq.ft in 2023 to Rs 4,900 per sq.ft in 2024, marking a 9% rise.

What is the land classification for West Coovam rive rRoad?

West Coovam rive rRoad is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for West Coovam rive rRoad?

The registration office for West Coovam rive rRoad is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties in Chindadripet?

Stamp duty for properties in Chindadripet is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during property transactions.