Guideline Value for Sasirekkamma Nagar 7th Street

Sasirekkamma Nagar 7th Street guideline value

The current guideline value of Sasirekkamma Nagar 7th 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 7th Street has changed

The guideline value for Sasirekkamma Nagar 7th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, a significant increase from Rs 1,675 per sq.ft in the 2017 revision, representing a change of +61%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024. This change reflects the adjustments made in the guideline values over the years, aligning with the overall trends in the Kodungaiyur area.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which matches the current guideline value for Sasirekkamma Nagar 7th Street.

• Sasirekkamma Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Sasirekkamma Nagar 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sasirekkamma Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sasirekkamma Nagar 7th Street?

The Sasirekkamma Nagar 7th 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 in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the government.

When a property is being sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with legal requirements.

Frequently asked questions

What is the current guideline value of Sasirekkamma Nagar 7th Street?

The current guideline value of Sasirekkamma Nagar 7th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,700 per sq.ft, which is an increase of +61%.

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

The stamp duty is charged at 7%, and the registration fee is 2%. For example, for a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers Sasirekkamma Nagar 7th Street?

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

Are there other streets in Kodungaiyur with the same guideline value?

Yes, several other streets in Kodungaiyur have the same guideline value of Rs 2,700 per sq.ft in 2024, including Sasirekkamma Nagar 6th Street, 8th Street, 5th Street, 9th Street, 4th Street, and 3rd Street.