Guideline Value for Golden George Nagar K. Srinivasan Kumarar Street

Golden George Nagar K. Srinivasan Kumarar Street guideline value

The current guideline value of Golden George Nagar K. Srinivasan Kumarar Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, with a land classification of Residential Special Type - I.

How the guideline value of Golden George Nagar K. Srinivasan Kumarar Street has changed

The guideline value for Golden George Nagar K. Srinivasan Kumarar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 371 per sq.ft, which increased to Rs 715 per sq.ft in 2003. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2007, and then to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017. The value then saw an increase to Rs 6,500 per sq.ft in 2023, before reaching the current figure of Rs 7,100 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 93% from 2002 to 2003, followed by a 180% rise from 2003 to 2007. The value then jumped by 225% from 2007 to 2012, but decreased by 33% from 2012 to 2017. There was a notable increase of 49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 1814%.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with the median being Rs 7,100 per sq.ft. Golden George Nagar K. Srinivasan Kumarar Street's 2024 figure is equal to this median.

• Golden George Nagar Judge Rathinavel Pandian Salai: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Kuppusamy Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar G.V. Joseph Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Kuppusamy Street Opposite Lane: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Dr. Selvi Jeyakumar Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Nammalvar Avenue: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Golden George Nagar K. Srinivasan Kumarar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that the 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 Golden George Nagar K. Srinivasan Kumarar Street?

The Sub Registrar Office that covers Golden George Nagar K. Srinivasan Kumarar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in assessing the legal obligations related to the transaction. Buyers and sellers must be aware of the guideline value to avoid any discrepancies during the registration process, as it directly influences the financial aspects of the property transfer.

Frequently asked questions

What is the current guideline value for Golden George Nagar K. Srinivasan Kumarar Street?

The current guideline value for Golden George Nagar K. Srinivasan Kumarar Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 371 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1814% over the years.

What is the land classification for this street?

The land classification for Golden George Nagar K. Srinivasan Kumarar Street is Residential Special Type - I.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a total guideline value of Rs 71,00,000, leading to specific fees based on this value.