Guideline Value for Cauvery Salai 3rd Cross Street

Cauvery Salai 3rd Cross Street guideline value

The current guideline value of Cauvery Salai 3rd 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 3rd Cross Street has changed

The guideline value for Cauvery Salai 3rd Cross Street has undergone several revisions over the years. The earliest recorded guideline value was Rs 2,000 per sq.ft in 2012. This figure was then revised to Rs 1,340 per sq.ft in 2017, which represented a decrease of 33%. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, marking a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing the 2024 figure for Cauvery Salai 3rd Cross Street below this median.

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

Stamp duty and registration fee for property in Cauvery Salai 3rd 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, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. This brings the total cost for stamp duty and registration 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.

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

Which Sub Registrar Office covers Cauvery Salai 3rd Cross Street?

The Cauvery Salai 3rd Cross Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, it is essential to be aware of the current guideline value, as it directly influences the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Cauvery Salai 3rd Cross Street?

The current guideline value of Cauvery Salai 3rd 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 is the land classification for Cauvery Salai 3rd Cross Street?

Cauvery Salai 3rd Cross Street is classified as Residential Class II 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 the stamp duty calculated for properties in Cauvery Salai 3rd Cross Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the stamp duty would be Rs 1,54,000.