Guideline Value for Dr. Kalaingnar Street (M.G.R.Nagar)

Dr. Kalaingnar Street (M.G.R.Nagar) guideline value

The current guideline value of Dr. Kalaingnar Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class IV Type - II.

How the guideline value of Dr. Kalaingnar Street (M.G.R.Nagar) has changed

The guideline value for Dr. Kalaingnar Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023 and further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the value saw a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Dr. Kalaingnar Street's 2024 figure below this median.

• Dr. Kannu Nagar 10th Kamarajar Street: Rs 2,200 per sq.ft (2024)
• Dr. Kannu Nagar Main road (N.P): Rs 3,300 per sq.ft (2024)
• Dr. Kannu Nagar N.S.C. Bose Street: Rs 2,200 per sq.ft (2024)
• Dr. Govindan Salai: Rs 7,700 per sq.ft (2024)
• Dr. Lakshmanasamy Salai: Rs 8,800 per sq.ft (2024)
• Dr. Natesan Salai: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Kalaingnar Street (M.G.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Dr. Kalaingnar Street (M.G.R.Nagar)?

The Sub Registrar Office that covers Dr. Kalaingnar Street (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices and preparing for registration.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Dr. Kalaingnar Street (M.G.R.Nagar)?

The current guideline value of Dr. Kalaingnar Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Dr. Kalaingnar Street (M.G.R.Nagar)?

Dr. Kalaingnar Street (M.G.R.Nagar) is classified as Residential Class IV Type - II.

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

The Ashok Nagar Sub Registrar Office covers Dr. Kalaingnar Street (M.G.R.Nagar) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 2,97,000.