Guideline Value for Kalaivanar Street M.G.R. Nagar, Ch-78

Kalaivanar Street M.G.R. Nagar, Ch-78 guideline value

The current guideline value of Kalaivanar Street M.G.R. Nagar, Ch-78 is Rs 3,300 per sq.ft. 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 Kalaivanar Street M.G.R. Nagar, Ch-78 has changed

Over the years, the guideline value of Kalaivanar Street M.G.R. Nagar has seen significant changes. The earliest recorded figure is from the 2007 revision, which was Rs 800 per sq.ft. This value increased dramatically to Rs 3,000 per sq.ft in 2012, marking a 275% rise. The 2023 revision maintained this value at Rs 3,000 per sq.ft, but the most recent 2024 revision has raised it to Rs 3,300 per sq.ft, reflecting a 10% increase.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

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 Kalaivanar Street M.G.R. Nagar's 2024 figure below this median.

• Kalaivanar Street J.Pet, ch-83: Rs 4,900 per sq.ft (2024)
• Kalaingar Karunanithi Street: Rs 3,300 per sq.ft (2024)
• Kamakotti Street: Rs 4,900 per sq.ft (2024)
• Kabilar Street Ch-83 (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Kamarajar Colony 2nd Street: Rs 4,100 per sq.ft (2024)
• Kamarajar Colony 3rd Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kalaivanar Street M.G.R. Nagar, Ch-78

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kalaivanar Street M.G.R. Nagar, Ch-78?

The Sub Registrar Office that covers Kalaivanar 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

The guideline value is a crucial factor during the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kalaivanar Street M.G.R. Nagar?

The current guideline value of Kalaivanar Street M.G.R. Nagar, Ch-78 is Rs 3,300 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 313% over the years.

What is the land classification for this area?

Kalaivanar Street M.G.R. Nagar falls under the land classification of Residential Class IV Type - II.

Which Sub Registrar Office is responsible for this street?

The Ashok Nagar Sub Registrar Office is responsible for the registration of properties on Kalaivanar Street M.G.R. Nagar, located on Nolambur 2nd Main Road, Nolambur Phase 2, 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 of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated on this amount.