Guideline Value for Water Tank Lane 2nd Street

Water Tank Lane 2nd Street guideline value

The current guideline value of Water Tank Lane 2nd Street is Rs 2,200 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 II Type - I.

How the guideline value of Water Tank Lane 2nd Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the 2024 revision saw a significant increase, bringing the value back up to Rs 2,200 per sq.ft, which is a 64% rise from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

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, with a median value of Rs 2,700 per sq.ft. Water Tank Lane 2nd Street's current guideline value is below this median.

• Water Tank Lane 1st Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 3th Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 4th Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 5th Street: Rs 2,200 per sq.ft (2024)
• V.V. Giri Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• West Avenue Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Water Tank Lane 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Water Tank Lane 2nd Street?

The Madhavaram Sub Registrar Office covers Water Tank Lane 2nd Street, 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 determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Water Tank Lane 2nd Street?

The current guideline value of Water Tank Lane 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2012 to 2024?

From 2012 to 2024, the guideline value has increased by 10%, moving from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value for Water Tank Lane 2nd Street in 2017 was Rs 1,340 per sq.ft, which was a decrease from the previous revision.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Water Tank Lane 2nd Street?

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