Guideline Value for KODHA MEDU

Kodha Medu guideline value

The current guideline value of Kodha Medu is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Kodha Medu has changed

The guideline value for Kodha Medu has experienced several revisions over the years. Starting from Rs 415 per sq.ft in 2002, it increased to Rs 520 per sq.ft in 2003, marking a 25% rise. The value saw further growth to Rs 800 per sq.ft in 2007, which was a significant increase of 54%. In 2012, the guideline value reached Rs 3,000 per sq.ft, reflecting a substantial increase of 275% from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33% before climbing again to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 695%. There are no figures available for the revisions in years not mentioned in the register for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Kodha Medu's 2024 guideline value is below this median.

• Kothavalchavadi Street: Rs 4,950 per sq.ft (2024)
• Kothavalchavadi Street Extn.: Rs 4,950 per sq.ft (2024)
• Kulakkarai Street: Rs 4,950 per sq.ft (2024)
• Kavarai Street: Rs 4,950 per sq.ft (2024)
• Karunagaran Street: Rs 3,300 per sq.ft (2024)
• Kuttadum Pillaiyar Koil Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Kodha Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kodha Medu?

The Kodha Medu area falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Saidapet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer and seller must ensure that the sale price is either equal to or higher than the guideline value to comply with registration norms. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kodha Medu?

The current guideline value of Kodha Medu is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 415 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 695% over this period.

What are the stamp duty and registration fees for property in Kodha Medu?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Kodha Medu?

Kodha Medu is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification of Kodha Medu?

Kodha Medu is classified as Residential Class III Type - I, indicating its suitability for residential purposes.