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

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

The current guideline value of Kunjammal 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, with a land classification of Residential Class IV Type - II.

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

The guideline value for Kunjammal Street(M.G.R.Nagar) has undergone several revisions over the years. The earliest recorded revision was in 2002, 2003, 2007, and 2017, but the register has no figure for this street in those years. In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. From 2012 to the 2024 revision, this value increased by 10%, resulting in the current value of Rs 3,300 per sq.ft.

In summary, the guideline value increased from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024. The 2024 revision reflects the most recent adjustment, while the register has no figures for the years 2023 and 2017.

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 for these streets is Rs 4,900 per sq.ft, placing Kunjammal Street(M.G.R.Nagar) below this median value.

• Kuppusamy Mudali Street Block 85: Rs 4,100 per sq.ft (2024)
• Kumarasamy Street: Rs 4,100 per sq.ft (2024)
• Kurunchi Street: Rs 3,300 per sq.ft (2024)
• Kuthadum Pillaiyar Koil Steet: Rs 3,300 per sq.ft (2024)
• Lake Street (Erikkarai Street)(N.P): Rs 3,300 per sq.ft (2024)
• Lakeview Road 2nd Lane (W.M): Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Kunjammal 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.

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

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

The Sub Registrar Office that covers Kunjammal 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 details.

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

The guideline value is a critical factor during property registration in Kodambakkam. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the correct revenue based on the property's assessed value.

When buying or selling property, the guideline value serves as a benchmark for both parties involved in the transaction. It ensures transparency and fairness in the registration process, as the fees are calculated based on this established value.

Frequently asked questions

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

The current guideline value of Kunjammal 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft. Kunjammal Street(M.G.R.Nagar) is below this median value.

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is charged.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.