Guideline Value for M.G.R 1st Cross Street

M.G.R 1st Cross Street guideline value

The current guideline value of M.G.R 1st Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of M.G.R 1st Cross Street has changed

Looking at the historical revisions, the guideline value for M.G.R 1st Cross Street was Rs 1,000 per sq.ft in 2012. This figure decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2024, the value saw a significant increase of 64%, bringing it to the current rate of Rs 1,100 per sq.ft.

There are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that the 2024 guideline value for M.G.R 1st Cross Street is below this median.

• M.G.R 1st Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Street: Rs 1,100 per sq.ft (2024)
• M.G.R Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R 1st Cross Street?

The Sub Registrar Office that covers M.G.R 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with legal requirements.

When buying or selling property, the guideline value is referenced to assess the minimum value for registration purposes. This ensures that the property is accurately valued for taxation and legal documentation.

Frequently asked questions

What is the current guideline value of M.G.R 1st Cross Street?

The current guideline value of M.G.R 1st Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then increased to Rs 1,100 per sq.ft in 2024.

What are the other streets with the same guideline value in Madambakkam?

Other streets in Madambakkam with the same guideline value of Rs 1,100 per sq.ft include M.G.R 1st Street, M.G.R. 2nd Cross Street, M.G.R. 2nd Street, M.G.R. 3rd Cross Street, M.G.R. 3rd Street, and M.G.R Street.

What is the registration fee for property in M.G.R 1st Cross Street?

The registration fee for property in M.G.R 1st Cross Street is calculated based on the guideline value. For a property valued at Rs 11,00,000, the registration fee would be Rs 22,000 at 2%.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.