Guideline Value for KUDUMI STREET

Kudumi Street guideline value

The current guideline value of Kudumi Street in Mathuranthagam village is Rs 1,110 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam SRO and is classified as Residential Special Type - I.

How the guideline value of Kudumi Street has changed

The guideline value for Kudumi Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 175 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, before decreasing to Rs 670 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, which was then raised to the current Rs 1,110 per sq.ft in the 2024 revision.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 471%. However, it decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects an 11% increase. Overall, the guideline value has increased by 534% from 2007 to 2024.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO with a guideline value for 2024 ranging from Rs 440 to Rs 1,480 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Kudumi Street's 2024 figure above this median.

• Krishnapriya Nagar: Rs 1,110 per sq.ft (2024)
• Kottanakara Street: Rs 1,110 per sq.ft (2024)
• Kushee Nagar: Rs 1,480 per sq.ft (2024)
• Kutcheri Street: Rs 1,100 per sq.ft (2024)
• Maharishi Nagar: Rs 1,110 per sq.ft (2024)
• Mahaveer Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Kudumi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, while the registration fee at 2% would amount to Rs 22,200, bringing the total cost to Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kudumi Street?

Kudumi Street is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Mathuranthagam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs that must be settled during the registration process. This ensures transparency and helps in maintaining a record of property transactions in the area.

Frequently asked questions

What is the current guideline value of Kudumi Street?

The current guideline value of Kudumi Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 175 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, reflecting an overall increase of 534% over this period.

What is the median guideline value in Mathuranthagam?

The median guideline value for the 109 streets in Mathuranthagam under the Madurandakam SRO is Rs 1,100 per sq.ft.

What are the stamp duty and registration fees for properties in Kudumi Street?

For a property with a guideline value of Rs 11,10,000, the stamp duty would be Rs 77,700 and the registration fee would be Rs 22,200, totaling Rs 99,900.

Which office handles the registration for Kudumi Street?

The Madurandakam Sub Registrar Office handles the registration for Kudumi Street, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.