Guideline Value for M G R Nagar

M G R Nagar guideline value

The current guideline value of M G R Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of M G R Nagar has changed

The guideline value for M G R Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 469 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 700 per sq.ft. As of the 2024 revision, the guideline value is again Rs 700 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49%, reflecting the same rate of Rs 700 per sq.ft in the latest revision.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, making M G R Nagar's 2024 figure equal to this median.

• Metro Green Medows: Rs 1,350 per sq.ft (2024)
• Metro Global City House site Scheme: Rs 800 per sq.ft (2024)
• Mel Pushkarani Street: Rs 700 per sq.ft (2024)
• Mohan Avenue: Rs 700 per sq.ft (2024)
• Meenakshi Nagar: Rs 1,000 per sq.ft (2024)
• Matha Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in M G R Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers M G R Nagar?

The Sub Registrar Office that covers M G R Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the current market standards as set by the Registration Department.

Frequently asked questions

What is the current guideline value of M G R Nagar?

The current guideline value of M G R Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023 and 2024.

Which Sub Registrar Office covers M G R Nagar?

The Sub Registrar Office that covers M G R Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What are the stamp duty and registration fees for a property in M G R Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

What is the land classification of M G R Nagar?

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