Guideline Value for Solaiamman Koil 2nd Cross Street

Solaiamman Koil 2nd Cross Street guideline value

The current guideline value of Solaiamman Koil 2nd Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Solaiamman Koil 2nd Cross Street has changed

Looking at the revisions, the guideline value for Solaiamman Koil 2nd Cross Street was Rs 2,000 per sq.ft in the 2012 revision. This represents a 10% increase to the current value of Rs 2,200 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2023, 2017, 2007, 2003, and 2002.

From 2012 to 2024, the increase in the guideline value reflects changes in the local real estate landscape. The previous values, however, remain unrecorded for the intervening years, indicating a lack of established pricing during those periods.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of the 2024 revision. The median value for these streets is Rs 2,700 per sq.ft, placing Solaiamman Koil 2nd Cross Street's current value below that median.

• Solaiamman Koil 1st Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 2nd Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 3rd Street: Rs 2,700 per sq.ft (2024)
• Solaiamman Koil 4th Street: Rs 2,700 per sq.ft (2024)
• Solai Amman Koil Street (Koyyathoppu): Rs 2,200 per sq.ft (2024)
• Solaiamman Koil Street (T.H. Road): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Solaiamman Koil 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. It is important to note that 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 Solaiamman Koil 2nd Cross Street?

The Sub Registrar Office that covers Solaiamman Koil 2nd Cross 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 is a critical factor when registering property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property in the current market. It is essential for buyers to be aware of this value to avoid overpaying and for sellers to price their properties competitively.

Frequently asked questions

What is the current guideline value for Solaiamman Koil 2nd Cross Street?

The current guideline value for Solaiamman Koil 2nd Cross 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 increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. The register has no figure for the years 2023, 2017, 2007, 2003, and 2002.

What is the median guideline value in Kodungaiyur?

The median guideline value in Kodungaiyur is Rs 2,700 per sq.ft as of the 2024 revision. Solaiamman Koil 2nd Cross Street's value is below this median.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value and the sale price.

Where can I find the Sub Registrar Office for this street?

The Madhavaram Sub Registrar Office covers Solaiamman Koil 2nd Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.