Guideline Value for M G R Street Main

M G R Street Main guideline value

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

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

The guideline value for M G R Street Main has seen significant changes over the years. In 2003, the value was Rs 193 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007, marking a substantial rise of 522%. The value then saw a remarkable jump to Rs 3,500 per sq.ft in 2012, a 192% increase. However, in 2017, the value decreased to Rs 2,345 per sq.ft, reflecting a decline of 33%. By 2023, the value rose again to Rs 3,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 3,900 per sq.ft, which is an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1921%. The register has no figure for this street in 2002.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry 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 Street Main's 2024 guideline value is above this median.

• M G R Cross Street: Rs 3,900 per sq.ft (2024)
• 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)
• Mekmillan Colony Main: Rs 3,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. 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 more details.

Which Sub Registrar Office covers M G R Street Main?

The M G R Street Main falls under the jurisdiction of 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 process when buying or selling property in Ullagaram. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value serves as a benchmark for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including the fees involved in registration.

Frequently asked questions

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

The current guideline value of M G R Street Main 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 193 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1921% over this period.

What is the land classification of M G R Street Main?

M G R Street Main is classified as Residential Class I Type - III.

Where can I find the registration office for M G R Street Main?

The registration office for M G R Street Main is the Alandur Sub Registrar Office, 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 Street Main?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the guideline value of Rs 3,900 per sq.ft, the stamp duty would be Rs 2,73,000.