Guideline Value for Kabilan Street (M.G.R. Nagar)

Kabilan Street (M.G.R. Nagar) guideline value

The current guideline value of Kabilan 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. The land classification for this area is Residential Class IV Type - II.

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

Over the years, the guideline value of Kabilan Street (M.G.R. Nagar) has seen several revisions. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions. The 2024 revision marked a further increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

From the 2007 revision to the 2024 revision, the overall increase in the guideline value is 313%. The 2012 to 2023 revision showed no change, while the jump from 2007 to 2012 was a remarkable 275%.

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 Kabilan Street's 2024 figure below this median.

• Kabilar Street Ch-83 (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Jublee Road: Rs 6,600 per sq.ft (2024)
• Jothi Ramalingam Street Block 83: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Street: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam Lane Block 83: Rs 4,100 per sq.ft (2024)
• Jothi Ramalingam 2nd Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kabilan 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total 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 more details.

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

The Sub Registrar Office that covers Kabilan Street (M.G.R. Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role during the registration process. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is documented according to the prevailing rates set by the Registration Department.

Buyers and sellers should be aware that the guideline value is a benchmark for property transactions in the area. It helps in standardizing the fees associated with property registration, thereby facilitating a smoother transaction process.

Frequently asked questions

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

The current guideline value of Kabilan 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 increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024. Significant jumps include a 275% rise from 2007 to 2012 and a 10% increase from 2023 to 2024.

What is the land classification for Kabilan Street (M.G.R. Nagar)?

Kabilan Street (M.G.R. Nagar) is classified as Residential Class IV Type - II. This classification affects the guideline value and the type of properties that can be developed in the area.

What are the stamp duty rates for properties in Kabilan Street (M.G.R. Nagar)?

The stamp duty for properties in Kabilan Street (M.G.R. Nagar) is charged at 7% of the guideline value or the sale price, whichever is higher. This is an important cost to consider when purchasing property.

Which office handles the registration for Kabilan Street (M.G.R. Nagar)?

The Ashok Nagar Sub Registrar Office handles the registration for Kabilan Street (M.G.R. Nagar). It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.