Guideline Value for Cauvery Salai 2nd Street (Gandhi Nagar)

Cauvery Salai 2nd Street (Gandhi Nagar) guideline value

The current guideline value of Cauvery Salai 2nd Street (Gandhi Nagar) 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 Cauvery Salai 2nd Street (Gandhi Nagar) has changed

The guideline value for Cauvery Salai 2nd Street was revised in 2012 to Rs 2,500 per sq.ft. The most recent revision in 2024 raised this figure to Rs 2,700 per sq.ft, marking an increase of 8% over the 2012 revision.

There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 in the register for this street. The 2024 revision is the only figure currently available for the 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 guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Cauvery Salai 2nd Street.

• Cauvery Salai 2nd Street: Rs 2,700 per sq.ft (2024)
• Cauvery Salai 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Cauvery Salai 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Cauvery Salai 3rd Street: Rs 2,700 per sq.ft (2024)
• Cauvery Salai 1st Street: Rs 2,700 per sq.ft (2024)
• Cauvery Salai 4th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Cauvery Salai 2nd Street (Gandhi Nagar)

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, bringing the total to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Cauvery Salai 2nd Street (Gandhi Nagar)?

The Cauvery Salai 2nd Street (Gandhi Nagar) falls under 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 determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Cauvery Salai 2nd Street (Gandhi Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Cauvery Salai 2nd Street was Rs 2,500 per sq.ft in 2012 and increased to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the classification of land on Cauvery Salai 2nd Street?

Cauvery Salai 2nd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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 on properties in Kodungaiyur?

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