Guideline Value for Thirugnanasambandar Street (Vivekananda Nagar)

Thirugnanasambandar Street (Vivekananda Nagar) guideline value

The current guideline value of Thirugnanasambandar Street (Vivekananda Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village and falls under the Madhavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Thirugnanasambandar Street (Vivekananda Nagar) has changed

The guideline value for Thirugnanasambandar Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. The most recent revision in 2024 shows an increase to Rs 2,700 per sq.ft, marking a significant rise of 61% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 8% in the guideline value.

It is important to note that there are no recorded figures for the years 2023, 2007, 2003, and 2002 for Thirugnanasambandar Street. The changes between the revisions highlight the fluctuations in the guideline values over time, reflecting the adjustments made by the registration department.

Guideline values in Kodungaiyur

In Kodungaiyur, there are a total of 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Thirugnanasambandar Street.

• Thiagarajan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Thendral Nagar (Burma Colony): Rs 2,700 per sq.ft (2024)
• Thendral Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Thendral Nagar 6h Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Thirugnanasambandar Street (Vivekananda Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for stamp duty and registration fees to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thirugnanasambandar Street (Vivekananda Nagar)?

The Sub Registrar Office that covers Thirugnanasambandar Street (Vivekananda Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial metric used during the registration of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value, as it directly impacts the financial obligations associated with the transaction. The registration department uses this value to assess the appropriate fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Thirugnanasambandar Street (Vivekananda Nagar)?

The current guideline value of Thirugnanasambandar Street (Vivekananda Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an 8% increase.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Thirugnanasambandar Street (Vivekananda Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Thirugnanasambandar Street?

The land classification for Thirugnanasambandar Street (Vivekananda Nagar) is Residential Class I Type - I, indicating its suitability for residential development.