Guideline Value for Amudham Nagar 8th Street

Amudham Nagar 8th Street guideline value

The current guideline value of Amudham Nagar 8th Street is Rs 2,700 per sq.ft. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Amudham Nagar 8th Street has changed

The guideline value for Amudham Nagar 8th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This figure remained the same in the next revision in 2017, but there was a significant drop to Rs 1,675 per sq.ft. In 2023, the value increased to Rs 2,500 per sq.ft, and in the latest revision for 2024, it has risen to Rs 2,700 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 8%. Overall, from 2012 to 2024, there has been an increase of 8% in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Amudham Nagar 8th Street.

• Amudham Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar Extension: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 5th Street: 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 8th 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, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Amudham Nagar 8th Street?

The Sub Registrar Office that covers Amudham Nagar 8th 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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It serves as a reference point for determining the stamp duty and registration fees that must be paid at the time of registration.

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 government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Amudham Nagar 8th Street?

The current guideline value of Amudham Nagar 8th 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Amudham Nagar 8th Street?

Amudham Nagar 8th Street is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Amudham Nagar 8th Street?

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.