Guideline Value for M R NAGAR

M R Nagar guideline value

The current guideline value of M R Nagar, located in Moolacheri village under the Pallavaram SRO, is Rs 2,710 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of M R Nagar has changed

Looking at the historical revisions, the guideline value for M R Nagar has remained at Rs 1,650 per sq.ft from the 2017 revision until the 2023 revision. However, in the 2024 revision, it increased to Rs 2,710 per sq.ft, marking a significant rise of 64% from the previous year. The overall change from the 2017 revision to the 2024 revision is also 64%.

For the years 2002, 2003, 2007, and 2012, the register has no figure for this street. Therefore, the only revisions that show a guideline value are from 2017, 2023, and 2024.

Guideline values in Moolacheri

In Moolacheri, there are 17 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,710 per sq.ft, which is the same as the current guideline value for M R Nagar.

• Maduraipakkam Road: Rs 1,650 per sq.ft (2024)
• Pearl Garden: Rs 3,410 per sq.ft (2024)
• Kamacthi Street: Rs 1,100 per sq.ft (2024)
• Raj Garden: Rs 2,530 per sq.ft (2024)
• Jones Serene Avenue Extension: Rs 4,400 per sq.ft (2024)
• Sathyam Golden Nest: Rs 2,710 per sq.ft (2024)

Stamp duty and registration fee for property in M R Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,710 per sq.ft, the total guideline value amounts to Rs 27,10,000. The stamp duty at 7% would be Rs 1,89,700, and the registration fee at 2% would be Rs 54,200, bringing the total cost for these fees to Rs 2,43,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers M R Nagar?

The Sub Registrar Office that covers M R Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

For more information, you can find your SRO.

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

The guideline value is an important factor when registering property transactions in Moolacheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the registration process. This ensures that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of M R Nagar?

The current guideline value of M R Nagar is Rs 2,710 per sq.ft as per the 2024 revision effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased by 64% from Rs 1,650 per sq.ft in 2023 to Rs 2,710 per sq.ft in 2024. There was no change from 2017 to 2023, where it remained at Rs 1,650 per sq.ft.

What are the other streets in Moolacheri and their guideline values?

Other streets in Moolacheri include Maduraipakkam Road at Rs 1,650 per sq.ft, Pearl Garden at Rs 3,410 per sq.ft, Kamacthi Street at Rs 1,100 per sq.ft, Raj Garden at Rs 2,530 per sq.ft, Jones Serene Avenue Extension at Rs 4,400 per sq.ft, and Sathyam Golden Nest at Rs 2,710 per sq.ft.

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

For a property in M R Nagar valued at Rs 27,10,000, the stamp duty at 7% would be Rs 1,89,700, and the registration fee at 2% would be Rs 54,200, totaling Rs 2,43,900.

Where is the Sub Registrar Office for M R Nagar located?

The Sub Registrar Office for M R Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.