Guideline Value for Chinna Kodungaiyur Road (School Road)

Chinna Kodungaiyur Road (School Road) guideline value

The current guideline value of Chinna Kodungaiyur Road (School Road) is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Chinna Kodungaiyur Road (School Road) has changed

The guideline value for Chinna Kodungaiyur Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,500 per sq.ft. However, in the 2024 revision, the value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2017 for this 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 is Rs 2,700 per sq.ft, which aligns with the current value of Chinna Kodungaiyur Road.

• Chandra Sekar Nagar 9th Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 8th Street: Rs 1,900 per sq.ft (2024)
• Chowdry Nagar Main Road: Rs 2,700 per sq.ft (2024)
• Chandra Sekar Nagar 7th Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 6th Street: Rs 1,900 per sq.ft (2024)
• Chandra Sekar Nagar 5th Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Kodungaiyur Road (School Road)

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, leading to a combined total of Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chinna Kodungaiyur Road (School Road)?

The Chinna Kodungaiyur Road (School Road) is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 serves as the basis for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value helps determine the official value for taxation purposes, ensuring that the appropriate fees are collected by the government. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Chinna Kodungaiyur Road?

The current guideline value of Chinna Kodungaiyur Road (School Road) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen revisions, with the most recent increase being from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, which is an 8% increase. From 2012 to 2024, the overall increase is also 8%.

What is the land classification for Chinna Kodungaiyur Road?

The land classification for Chinna Kodungaiyur Road is 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 for properties in Kodungaiyur?

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