Guideline Value for Water Tank Lane 4th Street

Water Tank Lane 4th Street guideline value

The current guideline value for Water Tank Lane 4th 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 4th Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision shows a significant increase to Rs 2,200 per sq.ft, representing a 64% rise from the 2017 figure. The overall change from 2012 to 2024 is an increase of 10%.

The register has no figure for Water Tank Lane 4th Street for the years 2002, 2003, 2007, and 2023.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median value is Rs 2,700 per sq.ft, placing the 2024 figure for Water Tank Lane 4th Street below this median.

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

Stamp duty and registration fee for property in Water Tank Lane 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Water Tank Lane 4th Street?

The Water Tank Lane 4th Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process for property transactions in Kodungaiyur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point to ensure that the sale price is aligned with the official valuation. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value for Water Tank Lane 4th Street?

The current guideline value for Water Tank Lane 4th 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 has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then increased to Rs 2,200 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What is the land classification for Water Tank Lane 4th Street?

Water Tank Lane 4th Street is classified as Residential Class II Type - I. This classification indicates the type of development permitted in the area.

What are the stamp duty and registration fees for a property 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. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.