Guideline Value for Amudham Nagar 7th Street

Amudham Nagar 7th Street guideline value

The current guideline value of Amudham Nagar 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Amudham Nagar 7th Street has changed

Over the years, the guideline value for Amudham Nagar 7th Street has seen several revisions. The earliest recorded figure is from 2012, where it was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, and then an increase to Rs 2,500 per sq.ft in 2023. The current revision for 2024 stands at Rs 2,700 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

The changes between the revisions highlight significant fluctuations. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest rise of 8%.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 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 guideline value is Rs 2,700 per sq.ft, placing Amudham Nagar 7th Street at the median value for 2024.

• Amudham Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar Extension: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Amudham Nagar 7th Street

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

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Amudham Nagar 7th Street?

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

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

The guideline value is a crucial factor when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value will impact the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price or the guideline value, whichever is higher, will be used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Amudham Nagar 7th Street?

The current guideline value of Amudham Nagar 7th 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, then back to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft in 2024.

What is the land classification for Amudham Nagar 7th Street?

Amudham Nagar 7th Street is classified as Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Amudham Nagar 7th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

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