Guideline Value for Kailasam Street

Kailasam Street guideline value

The current guideline value of Kailasam Street in Kodungaiyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Madhavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Kailasam Street has changed

The guideline value for Kailasam Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 raised the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, making Kailasam Street's 2024 figure below that median.

• Kadumbadi Amman Main Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Kadumbadi Amman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kailasam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kailasam Street?

The Kailasam Street falls under 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 property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that properties are valued consistently across the region, helping to maintain transparency and fairness in property transactions. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kailasam Street?

The current guideline value of Kailasam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 64% over these years.

What is the land classification of Kailasam Street?

Kailasam Street is classified as Residential Class II Type - I under the Madhavaram SRO.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Kailasam Street?

The Madhavaram Sub Registrar Office, which covers Kailasam Street, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.