Guideline Value for Golden George Nagar Srinivasan Street

Golden George Nagar Srinivasan Street guideline value

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

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

The guideline value for Golden George Nagar Srinivasan Street has seen various revisions over the years. In 2002, the value was Rs 371 per sq.ft, which increased to Rs 715 per sq.ft in 2003. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, and then saw a significant jump to Rs 6,500 per sq.ft in 2012. However, it decreased to Rs 4,355 per sq.ft in 2017. The value then rose again to Rs 6,500 per sq.ft in 2023, and finally, it is now Rs 7,100 per sq.ft as of the 2024 revision.

Between the revisions, the changes were notable. From 2002 to 2003, the increase was +93%. From 2003 to 2007, the value rose by +180%. The jump from 2007 to 2012 was +225%, but then it fell by -33% from 2012 to 2017. The value increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 shows an increase of +9%. Overall, from 2002 to 2024, the guideline value has increased by +1814%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values 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 current value for Golden George Nagar Srinivasan Street.

• Golden George Nagar S. Ettiappan Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar & Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Samson Saroja Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Thirumathi Checheli Pushpam Street: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Rengasamy Street and Opposite Lane: Rs 7,100 per sq.ft (2024)
• Golden George Nagar Vasantha Sreet: Rs 7,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, 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, making a total of Rs 6,39,000. It is important to note that the 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 Srinivasan Street?

The Sub Registrar Office that covers Golden George Nagar Srinivasan Street 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 a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mugappair, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

During the registration process, the guideline value serves as a benchmark for the transaction. If the sale price exceeds the guideline value, the duty is charged based on the sale price. This ensures that both buyers and sellers are aware of the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Golden George Nagar Srinivasan Street?

The current guideline value of Golden George Nagar Srinivasan 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 over the years, starting from Rs 371 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of +1814%.

What is the land classification for Golden George Nagar Srinivasan Street?

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

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

The Sub Registrar Office for Golden George Nagar Srinivasan Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in Mugappair?

Stamp duty for properties in Mugappair is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at a guideline value of Rs 7,100 per sq.ft incurs a total stamp duty and registration fee of Rs 6,39,000.