Guideline Value for MG Nagar Kennady Street

MG Nagar Kennady Street guideline value

The current guideline value of MG Nagar Kennady Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of MG Nagar Kennady Street has changed

The guideline value for MG Nagar Kennady Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, a significant drop of 33%. However, the next revision in 2023 saw a substantial increase to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, which means that the guideline value of MG Nagar Kennady Street is below this median.

• MG Nagar Kattabomman Street: Rs 2,800 per sq.ft (2024)
• MG Nagar Kirubalani Street: Rs 2,200 per sq.ft (2024)
• MG Nagar Jandha Street: Rs 2,200 per sq.ft (2024)
• MG Nagar Anthoniyar Koil Street: Rs 2,200 per sq.ft (2024)
• MG Nagar Anjukammal Street: Rs 2,200 per sq.ft (2024)
• MG Nagar MGR Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in MG Nagar Kennady Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers MG Nagar Kennady Street?

The Sub Registrar Office that covers MG Nagar Kennady Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Tharamani. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When you approach the registration office, the guideline value will be referenced to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of MG Nagar Kennady Street?

The current guideline value of MG Nagar Kennady Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the guideline values of other streets in Tharamani?

Other streets in Tharamani have varying guideline values, with the median being Rs 2,800 per sq.ft. MG Nagar Kennady Street's value is below this median.

What is the registration fee for properties in MG Nagar Kennady Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Which office handles registrations for MG Nagar Kennady Street?

The Adayar Sub Registrar Office handles registrations for MG Nagar Kennady Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.