Guideline Value for M.G.R Main Road

M.G.R Main Road guideline value

The current guideline value of M.G.R Main Road is Rs 200 per sq.ft, effective from 1 July 2024. This road is located in Kolathur village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of M.G.R Main Road has changed

Over the years, the guideline value of M.G.R Main Road has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 200 per sq.ft, and this figure has been maintained into the 2024 revision, with no percentage change from 2023 to 2024.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, the overall change from the 2012 revision to the 2024 revision shows no increase, remaining at Rs 200 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft, with a median value of Rs 250 per sq.ft. M.G.R Main Road's current figure is below this median.

• M.G.R Street: Rs 200 per sq.ft (2024)
• Main Road: Rs 600 per sq.ft (2024)
• Laskhmi Land: Rs 250 per sq.ft (2024)
• Lakshmi Nagar: Rs 250 per sq.ft (2024)
• Palla Street: Rs 100 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total charges Rs 18,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers M.G.R Main Road?

The M.G.R Main Road is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring compliance with legal requirements.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory payments during the registration process. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of M.G.R Main Road?

The current guideline value of M.G.R Main Road is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a drop to Rs 134 per sq.ft in 2017, and an increase back to Rs 200 per sq.ft in 2023.

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

Other streets in Kolathur include M.G.R Street and Perumal Koil Street, both at Rs 200 per sq.ft, as well as Main Road at Rs 600 per sq.ft, and Laskhmi Land and Lakshmi Nagar at Rs 250 per sq.ft.

What fees are associated with buying property on M.G.R Main Road?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for M.G.R Main Road located?

The Sub Registrar Office for M.G.R Main Road is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.