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

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

The current guideline value of Thirunavukkarasu 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 Thirunavukkarasu Street (M.G.R.Nagar) has changed

The guideline value for Thirunavukkarasu Street has seen several revisions over the years. The earliest figure available is from the 2012 revision, which was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. However, the latest revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure.

Between the 2012 and 2017 revisions, there was a decrease of 33%. Overall, comparing the 2012 revision to the current 2024 figure, there has been a slight increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values 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, placing Thirunavukkarasu Street's 2024 figure below that median.

• Thirunavukkarasar Cross 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 Thirunavukkarasu 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, 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 and the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Thirunavukkarasu 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 information.

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

The guideline value is a crucial factor in property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is subject to periodic revisions based on various factors.

When selling property, the guideline value can also influence the sale price, as it provides a reference point for both buyers and sellers. It is essential for all parties involved in a transaction to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

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

The current guideline value of Thirunavukkarasu 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 increased to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Thirunavukkarasu Street?

Thirunavukkarasu Street is classified as Residential Class IV Type - II.

Which Sub Registrar Office is associated with this street?

The Ashok Nagar Sub Registrar Office is responsible for properties on Thirunavukkarasu Street (M.G.R.Nagar), 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. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.