Guideline Value for M.G.R NAGAR 4TH CROSS STREET

M.G.R Nagar 4th Cross Street guideline value

The current guideline value of M.G.R Nagar 4th 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 4th Cross Street has changed

In the 2003 revision, the guideline value was Rs 461 per sq.ft, which increased to Rs 500 per sq.ft in 2007, reflecting a change of +8%. The value then saw a significant rise to Rs 1,500 per sq.ft in both the 2012 and 2023 revisions, indicating no change during that period. The most recent revision in 2024 has set the guideline value at Rs 1,600 per sq.ft, marking an increase of +7% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by +247%. Notably, there are no figures available for the revisions in 2002 and 2017 for M.G.R Nagar 4th Cross Street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry 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 4th Cross Street's 2024 guideline value is below this median.

• M.G.R Nagar 4th Link (Inaippu) Road: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 3rd Link (Inaippu) Road: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 5th Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar 4th 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 to Rs 1,44,000. 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 accurate calculations based on your property.

Which Sub Registrar Office covers M.G.R Nagar 4th Cross Street?

The Sub Registrar Office that covers M.G.R Nagar 4th 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 information.

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

The guideline value is a critical factor during property registration in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of M.G.R Nagar 4th Cross Street?

The current guideline value of M.G.R Nagar 4th 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 the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 1,44,000.

Which Sub Registrar Office handles registrations for M.G.R Nagar 4th Cross Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles registrations for M.G.R Nagar 4th Cross Street.

What is the land classification for M.G.R Nagar 4th Cross Street?

M.G.R Nagar 4th Cross Street is classified as Residential Class V Type - I, indicating its designation for residential use.