Guideline Value for M G ROAD

M G Road guideline value

The current guideline value of M G Road in Manapakkam village is Rs 2,220 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - II.

How the guideline value of M G Road has changed

In the 2017 revision, the guideline value for M G Road was Rs 2,010 per sq.ft. This figure remained unchanged in the 2023 revision. However, with the 2024 revision, the guideline value increased to Rs 2,220 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has seen a 10% increase.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the earliest recorded guideline value is from 2017.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, indicating that M G Road's 2024 figure is below this median.

• M.G.R. Nagar Chembar Road To M.G.R. Nagar Link Road: Rs 1,980 per sq.ft (2024)
• M.G.Salai -Mettu Colony Bajanai Koil Street Link Road: Rs 1,980 per sq.ft (2024)
• M.G.R. Nagar: Rs 2,200 per sq.ft (2024)
• Mettu Colony Link Road: Rs 1,980 per sq.ft (2024)
• Mettu Colony Anna Street: Rs 3,300 per sq.ft (2024)
• Mettu Colony: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in M G Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,220 per sq.ft, the total guideline value amounts to Rs 22,20,000. The stamp duty at 7% would be Rs 1,55,400, and the registration fee at 2% would be Rs 44,400, bringing the total to Rs 1,99,800. It's important to note that 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 information.

Which Sub Registrar Office covers M G Road?

The Sub Registrar Office that covers M G Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price of the property.

Frequently asked questions

What is the current guideline value of M G Road?

The current guideline value of M G Road in Manapakkam village is Rs 2,220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for M G Road has seen a 10% increase from Rs 2,010 per sq.ft in 2023 to Rs 2,220 per sq.ft in 2024. From 2017 to 2024, the overall increase is also 10%.

What is the land classification of M G Road?

M G Road is classified as Residential Class III Type - II. This classification affects the guideline value and property usage in the area.

Where can I find the registration office for M G Road?

The registration office for M G Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,99,800.