Guideline Value for Chandran Street 7th Lane (Teacher's Colony)

Chandran Street 7th Lane (Teacher's Colony) guideline value

The current guideline value of Chandran Street 7th Lane (Teacher's Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Chandran Street 7th Lane (Teacher's Colony) has changed

The guideline value for this street has undergone a revision since 2012. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. The most recent revision in 2024 saw an increase of 8%, bringing the current value to Rs 2,700 per sq.ft.

There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023 for this street in the register. Therefore, the only revisions available are from 2012 and 2024.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 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 current value of Chandran Street 7th Lane (Teacher's Colony).

• Chandran Street (Gandhi Nagar): Rs 2,200 per sq.ft (2024)
• Chandran Cross Street (Teacher's Colony): Rs 2,700 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 2,700 per sq.ft (2024)
• Chandra Sekar Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 3rd Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chandran Street 7th Lane (Teacher's Colony)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling 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.

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

Which Sub Registrar Office covers Chandran Street 7th Lane (Teacher's Colony)?

The Sub Registrar Office that covers Chandran Street 7th Lane (Teacher's Colony) 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 crucial factor in the registration process of property transactions in Kodungaiyur. It determines the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the proper documentation and financial obligations. Buyers should be aware that the guideline value may influence the overall transaction process, including the costs associated with registration.

Frequently asked questions

What is the current guideline value of Chandran Street 7th Lane (Teacher's Colony)?

The current guideline value of Chandran Street 7th Lane (Teacher's Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an increase of 8%. There are no figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification of Chandran Street 7th Lane (Teacher's Colony)?

Chandran Street 7th Lane (Teacher's Colony) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in this area?

The Madhavaram Sub Registrar Office handles property registrations for Chandran Street 7th Lane (Teacher's Colony). It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.