Guideline Value for Water Tank Lane 5th Street

Water Tank Lane 5th Street guideline value

The current guideline value for Water Tank Lane 5th 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 5th Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in the 2017 revision. However, in the 2024 revision, the guideline value increased significantly to Rs 2,200 per sq.ft, marking a 64% rise from the 2017 figure. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

The register has no figure for Water Tank Lane 5th Street for the years 2023, 2007, 2003, and 2002. This lack of data indicates that the changes in guideline values for this street were not recorded during those revisions.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with 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, placing Water Tank Lane 5th Street's 2024 figure below that median.

• Water Tank Lane 4th Street: Rs 2,200 per sq.ft (2024)
• Water Tank Lane 3th 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 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be 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 to Rs 1,98,000. 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 5th Street?

The Sub Registrar Office that covers Water Tank Lane 5th 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 crucial factor during property registration in Kodungaiyur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and fairly.

When buying or selling property, the guideline value influences the stamp duty and registration fees payable. Buyers should be aware that these costs are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Water Tank Lane 5th Street?

The current guideline value for Water Tank Lane 5th 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 for Water Tank Lane 5th Street has seen several changes, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, and then to Rs 2,200 per sq.ft in 2024.

What is the land classification for Water Tank Lane 5th Street?

Water Tank Lane 5th Street is classified as Residential Class II Type - I.

Where can I find the registration office for Water Tank Lane 5th Street?

The registration office for Water Tank Lane 5th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kodungaiyur?

Stamp duty for properties in Kodungaiyur is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.