Guideline Value for Karikalan Street Ch-78 (M.G.R.Nagar)

Karikalan Street Ch-78 (M.G.R.Nagar) guideline value

The current guideline value of Karikalan Street Ch-78 (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 Karikalan Street Ch-78 (M.G.R.Nagar) has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

The register has no figures for the revisions in 2002, 2003, 2007, and 2017 for this street. Therefore, the only available revisions are from 2012, 2023, and 2024.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value 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 Karikalan Street Ch-78 (M.G.R.Nagar) below this median.

• Karikalan Street Ch-83 (Pari Nagar): Rs 4,900 per sq.ft (2024)
• Kanniyappan Street: Rs 4,100 per sq.ft (2024)
• Kanni Street: Rs 4,100 per sq.ft (2024)
• Kannikapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Kannikapuram 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Karikalan Street Ch-78 (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 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 to Rs 2,97,000. Please 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 information.

Which Sub Registrar Office covers Karikalan Street Ch-78 (M.G.R.Nagar)?

The Sub Registrar Office that covers Karikalan Street Ch-78 (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 details.

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

The guideline value is a crucial factor when registering property in Kodambakkam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair and standardized value. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for Karikalan Street Ch-78 (M.G.R.Nagar)?

The current guideline value for Karikalan Street Ch-78 (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 seen a 10% increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. Overall, from 2012 to 2024, it has increased by 10% as well.

What is the land classification for Karikalan Street Ch-78 (M.G.R.Nagar)?

Karikalan Street Ch-78 (M.G.R.Nagar) is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for this street?

The Ashok Nagar Sub Registrar Office handles registrations for Karikalan Street Ch-78 (M.G.R.Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.