Guideline Value for Amudham Nagar 1st Street

Amudham Nagar 1st Street guideline value

The current guideline value of Amudham Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Amudham Nagar 1st Street has changed

The guideline value for Amudham Nagar 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, reflecting a significant rise of 61% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for Amudham Nagar 1st Street.

• Amudham Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Amudham Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Amudham Nagar 1st Street?

The Sub Registrar Office that covers Amudham Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Kodungaiyur, the guideline value is a crucial reference point. It is used to determine the stamp duty and registration fees that need to be paid during the registration process.

The guideline value serves as a benchmark to ensure that the property is valued accurately for taxation purposes. This helps in maintaining transparency in property transactions and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Amudham Nagar 1st Street?

The current guideline value of Amudham Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. This represents a decrease of 33% from 2012 to 2017, followed by an increase of 61% from 2017 to 2024.

What is the land classification for Amudham Nagar 1st Street?

The land classification for Amudham Nagar 1st Street is Residential Class I Type - I. This classification is important for determining the permissible uses of the land.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Amudham Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000.