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 880 per sq.ft. This street is located in Peerklankaranai village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of M.G.R 1st cross street has changed

The guideline value for M.G.R 1st cross street has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 800 per sq.ft. This was followed by a decrease to Rs 536 per sq.ft in 2017. The 2023 revision saw an increase to Rs 800 per sq.ft, and the most recent revision in 2024 set the value at Rs 880 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2024, the overall change in guideline value is +10%. The changes between revisions include a significant increase of 49% from 2017 to 2023 and a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. M.G.R 1st cross street's 2024 figure is below that median.

• M.G.R 2st cross street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Bharathiyar Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar ilango Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Kattabomman Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Thiruvalluvar Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Valmeeki Street: Rs 880 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees to Rs 79,200. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R 1st cross street?

The M.G.R 1st cross street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is an essential factor when buying or selling property in Peerklankaranai. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory during the registration process.

When a property is sold, the guideline value or the sale price is considered, whichever is higher, to determine the applicable duties. This ensures that the transaction is processed legally and that the appropriate fees are collected by the government.

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 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What are the stamp duty and registration fees for property in M.G.R 1st cross street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 79,200.

Which office handles registrations for M.G.R 1st cross street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for M.G.R 1st cross street, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the land classification of M.G.R 1st cross street?

M.G.R 1st cross street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.