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

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

The current guideline value of Kannagi Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - II.

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

The guideline value for Kannagi Street (M.G.R.Nagar) has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 3,000 per sq.ft. The 2024 revision saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kodambakkam

In Kodambakkam, there are 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 is Rs 4,900 per sq.ft, placing the 2024 figure for Kannagi Street (M.G.R.Nagar) below this median.

• Kannagi street (Thiru Nagar): Rs 4,900 per sq.ft (2024)
• Kannagi Street (JPT): Rs 4,900 per sq.ft (2024)
• Kannadhasan Street: Rs 3,300 per sq.ft (2024)
• Kannadhasan (Cross Street): Rs 3,300 per sq.ft (2024)
• Kannammal Street: Rs 4,100 per sq.ft (2024)
• Kannappar Salai: Rs 7,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kannagi Street (M.G.R.Nagar)

For a 1,000 sq.ft plot at the current guideline value, 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. Together, these fees would total Rs 2,97,000. 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 further calculations.

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

The Sub Registrar Office that covers Kannagi Street (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the property registration process. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When registering a property, the guideline value serves as a benchmark for calculating the applicable fees. It is essential for buyers to understand this value to ensure they are prepared for the financial implications of their property purchase.

Frequently asked questions

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

The current guideline value of Kannagi 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 increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% rise over this period. There were no changes recorded for the years 2002, 2003, 2007, and 2017.

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

Kannagi Street (M.G.R.Nagar) is classified as Residential Class IV Type - II under the land classification system.

What are the stamp duty and registration fees for properties on this street?

The stamp duty for a property on Kannagi Street (M.G.R.Nagar) is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which office handles registrations for Kannagi Street (M.G.R.Nagar)?

The Ashok Nagar Sub Registrar Office is responsible for property registrations in Kannagi Street (M.G.R.Nagar). The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.