Guideline Value for Sasirekkamma Nagar 3rd Street

Sasirekkamma Nagar 3rd Street guideline value

The current guideline value of Sasirekkamma Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sasirekkamma Nagar 3rd Street has changed

The guideline value for Sasirekkamma Nagar 3rd Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, a significant drop of 33%. In 2023, the guideline value rose to Rs 2,500 per sq.ft, and then increased again to the current value of Rs 2,700 per sq.ft in 2024, marking an 8% increase from the previous year.

There are no available figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen an increase of 8%.

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 guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the current value for Sasirekkamma Nagar 3rd Street.

• Sasirekkamma Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 10th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasirekkamma Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Sasirekkamma Nagar 3rd Street?

The Sasirekkamma Nagar 3rd Street is covered by 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 when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum price at which a property can be sold and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in the real estate market and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sasirekkamma Nagar 3rd Street?

The current guideline value of Sasirekkamma Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally rising to Rs 2,700 per sq.ft in 2024.

What is the land classification for Sasirekkamma Nagar 3rd Street?

Sasirekkamma Nagar 3rd Street is classified as Residential Class I Type - I.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Sasirekkamma Nagar 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sasirekkamma Nagar 3rd Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.