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Guideline Value

Corporate

Guideline Value for M.G.R NAGAR 2ND CROSS STREET

₹1600/sq.ft.

The guideline value for M.g.r Nagar 2nd Cross Street in Perambur village (Purasaivakkam SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Perambur

Village

Purasaivakkam

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹461 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

93/1, Bricklin Road, Otteri, Chennai- 600 012.
044-26623514
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on M.g.r Nagar 2nd Cross Street

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M.G.R Nagar 2nd Cross Street guideline value

The current guideline value of M.G.R Nagar 2nd Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class V Type - I.

How the guideline value of M.G.R Nagar 2nd Cross Street has changed

The guideline value for M.G.R Nagar 2nd Cross Street has seen several revisions over the years. Starting from Rs 461 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007, marking an 8% rise. The value then jumped significantly to Rs 1,500 per sq.ft in both 2012 and 2023, showing no change between these years. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 247%. Notably, there are no figures available for the years 2002 and 2017 for this street.

Guideline values in Perambur

In Perambur village, a total of 1,114 streets under the Purasaivakkam SRO have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. M.G.R Nagar 2nd Cross Street's 2024 figure is below this median.

Stamp duty and registration fee for property in M.G.R Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R Nagar 2nd Cross Street?

The Sub Registrar Office that covers M.G.R Nagar 2nd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, it is essential to be aware of the current guideline value as it affects the stamp duty and registration fees. Buyers should ensure that the sale price is at least equal to or greater than the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of M.G.R Nagar 2nd Cross Street?

The current guideline value of M.G.R Nagar 2nd Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 461 per sq.ft in 2003 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 247% over this period.

What is the land classification for M.G.R Nagar 2nd Cross Street?

M.G.R Nagar 2nd Cross Street is classified as Residential Class V Type - I.

Which Sub Registrar Office handles registrations for this area?

The Purasaivakkam Sub Registrar Office handles registrations for M.G.R Nagar 2nd Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,44,000.