Guideline Value for Golden George Nagar Rengasamy Street and Opposite Lane

Golden George Nagar Rengasamy Street and Opposite Lane guideline value

The current guideline value for Golden George Nagar Rengasamy Street and Opposite Lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Special Type - I.

How the guideline value of Golden George Nagar Rengasamy Street and Opposite Lane has changed

The guideline value for Golden George Nagar Rengasamy Street and Opposite Lane has seen significant changes 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 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 increased to Rs 6,500 per sq.ft in 2023 before reaching the current value of Rs 7,100 per sq.ft in 2024.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects a 9% rise. The largest increase occurred between 2007 and 2012, with a 225% rise, while the most significant overall change from 2002 to 2024 is an increase of 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 value is Rs 7,100 per sq.ft, which is the same as the current guideline value for Golden George Nagar Rengasamy Street and Opposite Lane.

• Golden George Nagar Raguman Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Samson Saroja Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Pillaiyar Koil Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar S. Ettiappan Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Petter Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Srinivasan Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Golden George Nagar Rengasamy Street and Opposite Lane

For a 1,000 sq.ft plot at the current rate, the 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 to Rs 6,39,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Golden George Nagar Rengasamy Street and Opposite Lane?

The Sub Registrar Office that covers Golden George Nagar Rengasamy Street and Opposite Lane is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, 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 an essential factor during the registration of property transactions in Mugappair. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, buyers must ensure that the sale price is either equal to or higher than the guideline value. This ensures that the correct amount of stamp duty is calculated based on the higher value, thus adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Golden George Nagar Rengasamy Street and Opposite Lane?

The current guideline value for Golden George Nagar Rengasamy Street and Opposite Lane 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, with various increases and decreases along the way.

What is the land classification for this area?

The land classification for Golden George Nagar Rengasamy Street and Opposite Lane is Residential Special Type - I.

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

The Sub Registrar Office for Golden George Nagar Rengasamy Street and Opposite Lane is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 71,00,000 would incur a stamp duty of Rs 4,97,000 at 7%.