Guideline Value for Amudham Nagar Extension

Amudham Nagar Extension guideline value

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

How the guideline value of Amudham Nagar Extension has changed

Over the years, the guideline value for Amudham Nagar Extension has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision further raised it to Rs 2,700 per sq.ft.

In terms of percentage changes, the guideline value increased by 8% from 2023 to 2024. There was a significant increase of 49% from 2017 to 2023. The value saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, there has been an increase of 8% in the guideline value.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1318 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 guideline value for Amudham Nagar Extension.

• Amudham Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Amudham Nagar 7th Street: 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 Extension

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, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees 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.

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

Which Sub Registrar Office covers Amudham Nagar Extension?

The Sub Registrar Office that covers Amudham Nagar Extension 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 plays a crucial role during the registration of property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on an official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall transaction costs. Buyers should ensure that they are prepared for these fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for Amudham Nagar Extension?

The current guideline value for Amudham Nagar Extension 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 2023 to Rs 2,700 per sq.ft in 2024, representing an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for Amudham Nagar Extension?

The land classification for Amudham Nagar Extension is Residential Class I Type - I, indicating that it is primarily designated for residential purposes.

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft would incur total fees of Rs 2,43,000.