Guideline Value for THANTHAI PERIYAR NAGAR 'M.G.R.STREET'

Thanthai Periyar Nagar 'm.G.R.Street' guideline value

The current guideline value of Thanthai Periyar Nagar 'm.G.R.Street' is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Thanthai Periyar Nagar 'm.G.R.Street' has changed

The guideline value for Thanthai Periyar Nagar 'm.G.R.Street' has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was adjusted to Rs 1,500 per sq.ft, and then increased to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year. Overall, from 2012 to 2024, there has been a 7% increase in the guideline value.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street, indicating that the values were not recorded during those years.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Thanthai Periyar Nagar 'm.G.R.Street' below this median value.

• Thanthai Periyar Nagar 'nagathamman Koil Street': Rs 1,600 per sq.ft (2024)
• Thanthai Periyar Nagar 'anna Street': Rs 1,600 per sq.ft (2024)
• Thanthai Periyar Nagar 'ambedkar Street': Rs 1,600 per sq.ft (2024)
• Thathankuppam Main Road: Rs 1,600 per sq.ft (2024)
• Thayamma Nagar: Rs 1,300 per sq.ft (2024)
• Theepanchiamman Nagar/ Extension: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thanthai Periyar Nagar 'm.G.R.Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, these fees would total Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Thanthai Periyar Nagar 'm.G.R.Street'?

The Sub Registrar Office that covers Thanthai Periyar Nagar 'm.G.R.Street' is the Villivakkam 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 Korattur

The guideline value is a crucial factor when buying or selling property in Korattur. It serves as a reference point for the registration of property transactions, ensuring that the value of the property is accurately assessed for taxation purposes. Buyers and sellers must be aware of the guideline value to avoid discrepancies during the registration process.

When a property is sold, the guideline value helps determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is compliant with local regulations and that both parties are informed of the financial obligations involved in the sale.

Frequently asked questions

What is the current guideline value of Thanthai Periyar Nagar 'm.G.R.Street'?

The current guideline value of Thanthai Periyar Nagar 'm.G.R.Street' is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Thanthai Periyar Nagar 'm.G.R.Street' was Rs 1,500 per sq.ft in 2012 and 2023, then increased to Rs 1,600 per sq.ft in 2024, reflecting a 7% increase from the previous year.

Which Sub Registrar Office is responsible for this street?

The Villivakkam Sub Registrar Office is responsible for Thanthai Periyar Nagar 'm.G.R.Street'. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the other streets in Korattur with the same guideline value?

Other streets in Korattur with the same 2024 guideline value of Rs 1,600 per sq.ft include Thanthai Periyar Nagar 'nagathamman Koil Street', Thanthai Periyar Nagar 'anna Street', and Thanthai Periyar Nagar 'ambedkar Street'.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000.