Guideline Value for Chandra Sekar Nagar 2nd Street

Chandra Sekar Nagar 2nd Street guideline value

The current guideline value of Chandra Sekar Nagar 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Chandra Sekar Nagar 2nd Street has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This figure changed to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and further rose to Rs 1,900 per sq.ft in the 2024 revision, reflecting an increase of 6% from the previous year. The years 2002, 2003, and 2007 have no figures recorded for this street.

Overall, from 2012 to 2024, the guideline value has increased by 6%. The transition from 2017 to 2023 saw a substantial increase of 49%, indicating a notable change in the guideline value during that period.

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, placing Chandra Sekar Nagar 2nd Street's 2024 figure below that median.

• Chandra Sekar Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 4th Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 5th Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 6th Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 7th Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chandra Sekar Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, resulting in a total of Rs 1,71,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Chandra Sekar Nagar 2nd Street?

The Sub Registrar Office that covers Chandra Sekar Nagar 2nd 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 critical factor when registering property transactions in Kodungaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the registration department.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. Buyers and sellers must be aware of this value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Chandra Sekar Nagar 2nd Street?

The current guideline value of Chandra Sekar Nagar 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Chandra Sekar Nagar 2nd Street?

The land classification for Chandra Sekar Nagar 2nd Street is Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 19,00,000, the stamp duty is Rs 1,33,000 and the registration fee is Rs 38,000, totaling Rs 1,71,000.

Which office handles registrations for Chandra Sekar Nagar 2nd Street?

The Madhavaram Sub Registrar Office handles registrations for Chandra Sekar Nagar 2nd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.