Guideline Value for M G R Road

M G R Road guideline value

The current guideline value of M G R Road in Thalakanancherry village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Commercial Class I Type - I.

How the guideline value of M G R Road has changed

The guideline value for M G R Road has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it saw a decrease to Rs 3,350 per sq.ft in 2017, before rising again to Rs 5,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 5,500 per sq.ft.

Between these revisions, the changes were notable. From 2007 to 2012, the value increased by 178%. The value then decreased by 33% from 2012 to 2017. A substantial increase of 49% occurred from 2017 to 2023, and finally, there was a 10% rise from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 206%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing M G R Road's current value above this median.

• M G R Road West Side: Rs 4,400 per sq.ft (2024)
• M G R Street (Gandhi Nagar): Rs 4,400 per sq.ft (2024)
• Minaral Metal Trading Corporation of India (Residential Colony): Rs 4,400 per sq.ft (2024)
• M.M.T.C. Colony: Rs 4,400 per sq.ft (2024)
• M.M.T.C. Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• M.M.T.C. Colony Kamarajar Nagar: Rs 4,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty is charged at 7%, resulting in Rs 3,85,000, while the registration fee is 2%, amounting to Rs 1,10,000. Together, the total cost for stamp duty and registration fee would be Rs 4,95,000. Note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M G R Road?

The M G R Road is covered by 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 Thalakanancherry

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the agreed sale price, which can impact the overall transaction costs.

Frequently asked questions

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

The current guideline value of M G R Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of M G R Road?

M G R Road is classified as Commercial Class I Type - I under the Alandur SRO.

What are the stamp duty and registration fees for M G R Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for M G R Road?

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