Guideline Value for Thirunavukkarasar Cross Street (M.G.R.Nagar)

Thirunavukkarasar Cross Street (M.G.R.Nagar) guideline value

The current guideline value of Thirunavukkarasar Cross 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, classified as Residential Class IV Type - II.

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

The guideline value for Thirunavukkarasar Cross Street (M.G.R.Nagar) has seen several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2024, the guideline value increased significantly by 64%, bringing the current rate to Rs 3,300 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. Overall, comparing the 2012 and 2024 figures, there has been a slight increase of 10% in the guideline value.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value for Thirunavukkarasar Cross Street (M.G.R.Nagar) is below this median.

• Thirunavukkarasu Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thiru Nagar Periyar Street: Rs 4,900 per sq.ft (2024)
• Thiru Nagar Kambar Street: Rs 4,900 per sq.ft (2024)
• Thirumurugan Street Block 93: Rs 2,700 per sq.ft (2024)
• Thiruvalluvar 2nd Street (NP): Rs 2,200 per sq.ft (2024)
• Thirumalai Street (Kodambakkam Salai): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thirunavukkarasar Cross 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost Rs 2,97,000. Stamp 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 more details.

Which Sub Registrar Office covers Thirunavukkarasar Cross Street (M.G.R.Nagar)?

The Sub Registrar Office that covers Thirunavukkarasar Cross 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 is a critical factor when registering property transactions in Kodambakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the property registration process.

When buying or selling property, the guideline value ensures that all transactions are conducted transparently and fairly, reflecting the market conditions as per the latest revisions. This helps in maintaining consistency in property valuations across the region.

Frequently asked questions

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

The current guideline value of Thirunavukkarasar Cross 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then to Rs 3,300 per sq.ft in 2024. This reflects a decrease followed by a significant increase over the years.

What is the land classification of Thirunavukkarasar Cross Street (M.G.R.Nagar)?

Thirunavukkarasar Cross Street (M.G.R.Nagar) is classified as Residential Class IV Type - II.

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

The Ashok Nagar Sub Registrar Office, which covers Thirunavukkarasar Cross Street (M.G.R.Nagar), is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.