Guideline Value for Public Well Street

Public Well Street guideline value

The current guideline value of Public Well 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 Public Well Street has changed

In the 2012 revision, the guideline value for Public Well Street was Rs 2,000 per sq.ft. This remained unchanged in the 2023 revision, where it was still Rs 2,000 per sq.ft. However, in the 2024 revision, the value increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for Public Well Street for the years 2002, 2003, 2007, and 2017.

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. The median value for these streets is Rs 2,700 per sq.ft, which means that the guideline value of Public Well Street is below this median.

• Pugazhanthi Street: Rs 2,200 per sq.ft (2024)
• President Krishnan Street: Rs 2,200 per sq.ft (2024)
• Prakash Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Prakash Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Prakash Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Prakash Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Public Well 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, and the registration fee at 2% would be Rs 44,000, bringing the total cost together to 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.

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

Which Sub Registrar Office covers Public Well Street?

The Sub Registrar Office that covers Public Well Street 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 plays a crucial role during the registration of property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When you register a property, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Public Well Street?

The current guideline value of Public Well 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 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. There was no change in the value from 2012 to 2023.

What is the land classification for Public Well Street?

Public Well Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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 the registration of properties in the area.

How is the stamp duty calculated for properties in Public Well Street?

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