Guideline Value for M.G.R 3rd Cross Street

M.G.R 3rd Cross Street guideline value

The current guideline value of M.G.R 3rd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur Sub Registrar Office (SRO) and falls under Residential Class III Type - II land classification.

How the guideline value of M.G.R 3rd Cross Street has changed

The guideline value for M.G.R 3rd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and currently, it stands at Rs 1,100 per sq.ft as per the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The value has increased by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Chembakkam

In Chembakkam, there are a total of 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that M.G.R 3rd Cross Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in M.G.R 3rd 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 amounts to Rs 11,00,000. The stamp duty at 7% would be 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R 3rd Cross Street?

The Sub Registrar Office that covers M.G.R 3rd 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 Chembakkam

The guideline value is a crucial factor when registering a property in Chembakkam. It determines the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value according to the local regulations.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of M.G.R 3rd Cross Street?

The current guideline value of M.G.R 3rd 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, then to Rs 1,000 per sq.ft in 2023, and currently to Rs 1,100 per sq.ft in 2024.

What is the land classification for M.G.R 3rd Cross Street?

M.G.R 3rd Cross Street is classified as Residential Class III Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office is responsible for M.G.R 3rd Cross Street?

The Selaiyur Sub Registrar Office is responsible for M.G.R 3rd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.