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

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

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

The guideline value for Thiruvalluvar Street (M.G.R.Nagar) has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 620 per sq.ft. This saw a significant increase in the 2012 revision, where it remained at Rs 3,000 per sq.ft. The 2023 revision also maintained this figure of Rs 3,000 per sq.ft, but the latest revision in 2024 raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 432%. Notably, there are no figures available for this street in the revisions for the years 2002, 2003, and 2017.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of the 2024 revision. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that Thiruvalluvar Street (M.G.R.Nagar) is below this median.

• Thiruvalluvar Street (Ethiraj Nagar): Rs 4,900 per sq.ft (2024)
• Thiruvalluvar Salai (Nesapakkam): Rs 2,700 per sq.ft (2024)
• Thiruvengadam Street: Rs 6,600 per sq.ft (2024)
• Thiru. Vi.Ka. Street (Ethiraj Nagar): Rs 4,900 per sq.ft (2024)
• Thiru.Vi.Ka. Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Thiyagi Kuppan 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thiruvalluvar 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, bringing the total to 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.

For more calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Thiruvalluvar 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 crucial factor when registering property in Kodambakkam. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration process.

When a property is sold or purchased, the guideline value helps in determining the minimum value at which the property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 432%, from Rs 620 per sq.ft to Rs 3,300 per sq.ft in 2024. The most recent change was a 10% increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the higher of the guideline value or the sale price.

Which Sub Registrar Office handles registrations for this street?

The Ashok Nagar Sub Registrar Office is responsible for registrations for Thiruvalluvar Street (M.G.R.Nagar). It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum value for property registration, affecting the stamp duty and registration fees. Buyers and sellers must consider the current guideline value to ensure compliance with legal requirements during property transactions.