Guideline Value for Cauvery Salai 2nd Cross Street

Cauvery Salai 2nd Cross Street guideline value

The current guideline value of Cauvery Salai 2nd Cross Street is Rs 2,200 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 II Type - I.

How the guideline value of Cauvery Salai 2nd Cross Street has changed

The guideline value for Cauvery Salai 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in 2017. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,200 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values for 2024 ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this village is Rs 2,700 per sq.ft, making the 2024 figure for Cauvery Salai 2nd Cross Street below that median.

• Cauvery Salai 1st Street: Rs 2,700 per sq.ft (2024)
• Cauvery Salai 2nd Street: Rs 2,700 per sq.ft (2024)
• Cauvery Salai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Cauvery Salai 2nd Street (Gandhi Nagar): Rs 2,700 per sq.ft (2024)
• Cauvery Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Cauvery Salai 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Cauvery Salai 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Cauvery Salai 2nd Cross Street?

The Sub Registrar Office that covers Cauvery Salai 2nd Cross 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 plays a crucial role 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 need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Cauvery Salai 2nd Cross Street?

The current guideline value of Cauvery Salai 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the guideline values for other streets in Kodungaiyur?

The guideline values for other streets in Kodungaiyur vary, with rates ranging from Rs 1,900 to Rs 4,000 per sq.ft. For example, Cauvery Salai 1st Street and 2nd Street are both valued at Rs 2,700 per sq.ft in 2024.

What fees are applicable when registering property in Cauvery Salai 2nd Cross Street?

The fees applicable include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,98,000.

Where can I find the Sub Registrar Office for Cauvery Salai 2nd Cross Street?

The Sub Registrar Office for Cauvery Salai 2nd Cross Street is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more information about your SRO online.