Guideline Value for Kamarajar Salai 2nd Cross Street

Kamarajar Salai 2nd Cross Street guideline value

The current guideline value for Kamarajar Salai 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Kamarajar Salai 2nd Cross Street has changed

The guideline value for Kamarajar Salai 2nd Cross Street has undergone several revisions. The earliest recorded revision was in 2002, followed by 2003, 2007, 2012, and 2023, but the register has no figure for this street in those years. The 2017 revision set the value at Rs 1,340 per sq.ft, which was then revised to Rs 2,200 per sq.ft in 2024, marking an increase of 64%.

Comparing the 2024 figure with the previous revisions, the value has significantly increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. This shows a substantial rise in the guideline value over the years, reflecting changes in the property landscape.

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, with a median value of Rs 2,700 per sq.ft. Kamarajar Salai 2nd Cross Street's 2024 figure is below this median.

• Kamarajar Salai 1st Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 2nd Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kamarajar Salai 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kamarajar Salai 10th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 3rd Lane: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Salai 2nd Cross 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 be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Kamarajar Salai 2nd Cross Street?

The Kamarajar Salai 2nd Cross Street falls under 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 serves as a benchmark for property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of properties.

When registering a property, the guideline value is essential as it ensures that the transaction is documented at a fair value, which is crucial for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value for Kamarajar Salai 2nd Cross Street?

The current guideline value for Kamarajar Salai 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an increase of 64%.

What is the land classification for Kamarajar Salai 2nd Cross Street?

Kamarajar Salai 2nd Cross Street is classified as Residential Class II Type - I.

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Kamarajar Salai 2nd Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.