Guideline Value for MG Nagar Kirubalani Street

MG Nagar Kirubalani Street guideline value

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

How the guideline value of MG Nagar Kirubalani Street has changed

The guideline value for MG Nagar Kirubalani Street has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a drop to Rs 1,340 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the most recent revision in 2024 increased it to Rs 2,200 per sq.ft. Notably, there are no figures available in the register for the years 2002, 2003, and 2007.

Between the revisions, the changes are as follows: from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision saw a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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, with a median value of Rs 2,800 per sq.ft. The guideline value of MG Nagar Kirubalani Street is below this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total 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.

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

Which Sub Registrar Office covers MG Nagar Kirubalani Street?

The MG Nagar Kirubalani Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is used to calculate the fees, ensuring that all transactions are in accordance with the regulations set by the Registration Department. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

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

The current guideline value of MG Nagar Kirubalani 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 is the land classification for MG Nagar Kirubalani Street?

MG Nagar Kirubalani Street is classified as Residential Class III Type - I.

How does the guideline value compare to other streets in Tharamani?

The guideline value of MG Nagar Kirubalani Street is below the median value of Rs 2,800 per sq.ft for the 78 streets in Tharamani under the Adayar SRO.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.