Guideline Value for Golden George Nagar Nammalvar Avenue

Golden George Nagar Nammalvar Avenue guideline value

The current guideline value of Golden George Nagar Nammalvar Avenue is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is located in Mugappair village and falls under the Konnur SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Golden George Nagar Nammalvar Avenue has changed

The guideline value for Golden George Nagar Nammalvar Avenue has seen several revisions over the years. In 2002, the 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, then jumped to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017 before climbing to Rs 6,500 per sq.ft again in 2023 and finally reaching Rs 7,100 per sq.ft in 2024.

Between the revisions, the most notable changes include a 225% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a 49% increase from 2017 to 2023. 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. The median guideline value for these streets is Rs 7,100 per sq.ft, which is the same as the guideline value for Golden George Nagar Nammalvar Avenue.

• Golden George Nagar Kuppusamy Street Opposite Lane: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Nanthini Lakshmanan Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Kuppusamy Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Others street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar K. Srinivasan Kumarar Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Packiam Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Golden George Nagar Nammalvar Avenue

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, charged at 7%, would be Rs 4,97,000, while the registration fee, charged at 2%, would be Rs 1,42,000. Together, the total cost for these fees would be 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 Nammalvar Avenue?

The Sub Registrar Office that covers Golden George Nagar Nammalvar Avenue is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, you can visit find your SRO.

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

When buying or selling property in Mugappair, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

The guideline value is essential for both buyers and sellers, as it helps determine the financial obligations associated with property transactions. Buyers should be aware of the guideline value to understand the fees they will incur, while sellers need to ensure their sale price aligns with the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Golden George Nagar Nammalvar Avenue?

The current guideline value of Golden George Nagar Nammalvar Avenue 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 this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles property registrations for Golden George Nagar Nammalvar Avenue?

The Konnur Sub Registrar Office handles property registrations for Golden George Nagar Nammalvar Avenue, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value determined for properties in Mugappair?

The guideline value for properties in Mugappair is determined by the government and is based on various factors, ensuring a standardized approach for calculating stamp duty and registration fees.