Guideline Value for S.V. Chidambaram Salai Block 78

S.V. Chidambaram Salai Block 78 guideline value

The current guideline value of S.V. Chidambaram Salai Block 78 is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class III Type - II.

How the guideline value of S.V. Chidambaram Salai Block 78 has changed

The guideline value for S.V. Chidambaram Salai Block 78 has undergone several revisions over the years. The earliest recorded figure is from 2007 at Rs 1,460 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 208%. However, the value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 saw it rise to Rs 4,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 4,900 per sq.ft, reflecting a 9% increase.

Overall, from 2007 to 2024, the guideline value has increased by 236%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

Kodambakkam has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the current guideline value of S.V. Chidambaram Salai Block 78.

• S.V. Lingam (Road) (Salai): Rs 7,000 per sq.ft (2024)
• Susila Street: Rs 4,100 per sq.ft (2024)
• S.V. Nagarathinam Street: Rs 4,100 per sq.ft (2024)
• Swamy Nathan Street: Rs 4,100 per sq.ft (2024)
• Sunday Observer Balasubramaniyam Street: Rs 4,900 per sq.ft (2024)
• Sundar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.V. Chidambaram Salai Block 78

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, calculated at 7%, would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.V. Chidambaram Salai Block 78?

The Sub Registrar Office that covers S.V. Chidambaram Salai Block 78 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of S.V. Chidambaram Salai Block 78?

The current guideline value of S.V. Chidambaram Salai Block 78 is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 236% over the years.

What is the land classification for S.V. Chidambaram Salai Block 78?

S.V. Chidambaram Salai Block 78 is classified as Residential Class III Type - II.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty for properties in Kodambakkam is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.