Guideline Value for George Fernandes Street, M.G.R Nagar

George Fernandes Street, M.G.R Nagar guideline value

The current guideline value of George Fernandes Street, M.G.R Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of George Fernandes Street, M.G.R Nagar has changed

In the 2017 revision, the guideline value was set at Rs 1,206 per sq.ft. It then increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant rise of 49%. With the latest revision in 2024, the value further increased to Rs 1,980 per sq.ft, reflecting a 10% change from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

The register does not have figures for the years 2002, 2003, 2007, and 2012 for George Fernandes Street, M.G.R Nagar.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO with a 2024 guideline value range from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, which means that George Fernandes Street's 2024 figure is below this median.

• Girigori Street 2nd Cross Street: Rs 1,980 per sq.ft (2024)
• Girigori Street Extension: Rs 1,980 per sq.ft (2024)
• Girigori Street Lane: Rs 1,980 per sq.ft (2024)
• Girigori Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Giri Square / Anna Nagar: Rs 2,750 per sq.ft (2024)
• Girisqure ,1st Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in George Fernandes Street, M.G.R Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers George Fernandes Street, M.G.R Nagar?

The Sub Registrar Office that covers George Fernandes Street, M.G.R Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions comply with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of George Fernandes Street, M.G.R Nagar?

The current guideline value of George Fernandes Street, M.G.R Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and now to Rs 1,980 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

Are there any years without a guideline value for this street?

Yes, the register has no figures for George Fernandes Street, M.G.R Nagar for the years 2002, 2003, 2007, and 2012.

What is the range of guideline values for streets in Pammal?

The guideline values for streets in Pammal range from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median value for these streets is Rs 2,090 per sq.ft.

How is stamp duty calculated for properties in George Fernandes Street, M.G.R Nagar?

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 19,80,000, the stamp duty at 7% would be Rs 1,38,600.