Guideline Value for Thiru.Vi.Ka. Street (M.G.R.Nagar)

Thiru.Vi.Ka. Street (M.G.R.Nagar) guideline value

The current guideline value of Thiru.Vi.Ka. 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 is classified under Residential Class IV Type - II. The guideline value is set by the Ashok Nagar SRO.

How the guideline value of Thiru.Vi.Ka. Street (M.G.R.Nagar) has changed

The guideline value for Thiru.Vi.Ka. Street (M.G.R.Nagar) has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2024, the value increased significantly to Rs 3,300 per sq.ft, marking a 64% rise. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no registered figures for this street in the years 2002, 2003, 2007, and 2023. The fluctuations in the guideline value reflect the changes made during the registered revisions that have occurred.

Guideline values in Kodambakkam

Kodambakkam village has a range of guideline values for its streets, with figures for 2024 ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, which indicates that the guideline value of Thiru.Vi.Ka. Street (M.G.R.Nagar) is below this median.

• Thiru. Vi.Ka. Street (Ethiraj Nagar): Rs 4,900 per sq.ft (2024)
• Thiyagi Kuppan 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Kuppan Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Kuppusamy Street: Rs 3,300 per sq.ft (2024)
• Thiyagi Surendran Street: Rs 3,300 per sq.ft (2024)
• Tholkappiar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Vi.Ka. 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 is Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Thiru.Vi.Ka. Street (M.G.R.Nagar)?

The Sub Registrar Office that covers Thiru.Vi.Ka. Street (M.G.R.Nagar) is the Ashok Nagar 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 information.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure they are compliant with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue based on the property's value.

Frequently asked questions

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

The current guideline value of Thiru.Vi.Ka. Street (M.G.R.Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased by 10%, moving from Rs 3,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value in 2017 was Rs 2,010 per sq.ft. This marked a decrease from the previous revision in 2012.

Are there any revisions with no figures for this street?

Yes, the register has no figures for Thiru.Vi.Ka. Street (M.G.R.Nagar) in the years 2002, 2003, 2007, and 2023.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office covering Thiru.Vi.Ka. Street (M.G.R.Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.