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

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

The current guideline value of Thilagar Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

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

Over the years, the guideline value of Thilagar Street (M.G.R.Nagar) has seen several revisions. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the 2023 revision of Rs 3,000 per sq.ft. Notably, the 2012 revision also recorded Rs 3,000 per sq.ft, indicating no change from 2012 to 2023. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The current rate of Rs 3,300 per sq.ft is below the median guideline value of Rs 4,900 per sq.ft for the 1,031 streets in Kodambakkam under the Ashok Nagar SRO.

Guideline values in Kodambakkam

In Kodambakkam, the guideline values vary significantly, ranging from Rs 2,200 to Rs 11,000 per sq.ft as per the 2024 revision. Thilagar Street (M.G.R.Nagar) is positioned below the median value of Rs 4,900 per sq.ft. The following are the guideline values for other streets in Kodambakkam:

• Thilagar Street (Kattabomman Block): Rs 4,900 per sq.ft (2024)
• Thirugnana Sambander Street: Rs 3,300 per sq.ft (2024)
• Thirumalai Street (Kodambakkam Salai): Rs 3,300 per sq.ft (2024)
• Thanthai Periyar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thirumurugan Street Block 93: Rs 2,700 per sq.ft (2024)
• Thiru Nagar Kambar Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thilagar 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 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 charges to Rs 2,97,000. 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 Thilagar Street (M.G.R.Nagar)?

The Sub Registrar Office that covers Thilagar 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 plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the applicable fees.

When a property is registered, the guideline value ensures transparency in property transactions. It helps in standardizing the valuation of properties, making it easier for buyers and sellers to understand the costs involved in the registration process.

Frequently asked questions

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

The current guideline value of Thilagar 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 has remained at Rs 3,000 per sq.ft from 2012 to 2023, then increased to Rs 3,300 per sq.ft in 2024. Overall, this represents a 10% increase from 2012 to 2024.

What is the land classification for Thilagar Street (M.G.R.Nagar)?

The land classification for Thilagar Street (M.G.R.Nagar) is Residential Class IV Type - II.

What is the stamp duty rate for properties in Thilagar Street (M.G.R.Nagar)?

The stamp duty rate for properties in Thilagar Street (M.G.R.Nagar) is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Thilagar Street (M.G.R.Nagar)?

The Sub Registrar Office that covers Thilagar Street (M.G.R.Nagar) is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.