Guideline Value for M G R Cross Street

M G R Cross Street guideline value

The current guideline value of M G R Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of M G R Cross Street has changed

The guideline value for M G R Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 172 per sq.ft. This increased to Rs 193 per sq.ft in 2003, marking a rise of 12%. The value then surged dramatically to Rs 1,200 per sq.ft in 2007, reflecting a substantial increase of 522%. Following this, the value rose to Rs 3,500 per sq.ft in 2012, a 192% increase from the previous revision. However, it then decreased to Rs 2,345 per sq.ft in 2017, showing a decline of 33%. The value increased again to Rs 3,500 per sq.ft in 2023, and finally reached Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2167%. There are no revisions with figures missing for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. M G R Cross Street's 2024 figure is above this median.

• M.G. Nagar Main Road: Rs 3,900 per sq.ft (2024)
• M G Nagar Main: Rs 3,900 per sq.ft (2024)
• M G Nagar 2nd Cross Street: Rs 3,900 per sq.ft (2024)
• M G Nagar 1st Cross Street: Rs 3,900 per sq.ft (2024)
• M G R Street Main: Rs 3,900 per sq.ft (2024)
• Mekmillan Colony Main: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in M G R Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value is Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 M G R Cross Street?

The Sub Registrar Office that covers M G R Cross Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Ullagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable duties. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M G R Cross Street?

The current guideline value of M G R Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 172 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 2167%.

What is the land classification for M G R Cross Street?

M G R Cross Street is classified as Residential Class I Type - III, indicating its use for residential purposes.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in M G R Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.