Guideline Value for Kamarajar Salai 7th Lane

Kamarajar Salai 7th Lane guideline value

The current guideline value of Kamarajar Salai 7th Lane is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Kamarajar Salai 7th Lane has changed

The guideline value for Kamarajar Salai 7th Lane has seen several revisions over the years. From the 2012 revision, which was Rs 1,800 per sq.ft, it remained unchanged until the 2023 revision, which also recorded Rs 1,800 per sq.ft. However, in the 2024 revision, the value increased to Rs 1,900 per sq.ft, marking a 6% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the guideline value increased by 6%. There are no recorded figures for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with 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. The guideline value for Kamarajar Salai 7th Lane is below this median.

• Kamarajar Salai 6th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 8th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 5th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 9th Lane: Rs 1,900 per sq.ft (2024)
• Kamarajar Salai 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Kamarajar Salai 4th Lane: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Kamarajar Salai 7th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. 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 7th Lane?

The Sub Registrar Office that covers Kamarajar Salai 7th Lane is 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 is a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value as determined by the local authorities. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Kamarajar Salai 7th Lane?

The current guideline value of Kamarajar Salai 7th Lane is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, marking a 6% increase. There were no changes recorded for the years 2002, 2003, 2007, and 2017 for this street.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 19,00,000, the total fees would amount to Rs 1,71,000.

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 registrations for properties in Kamarajar Salai 7th Lane.

What is the land classification of Kamarajar Salai 7th Lane?

Kamarajar Salai 7th Lane is classified as Residential Class III Type - I, indicating its suitability for residential development.