Guideline Value for M.G.R NAGAR 6TH CROSS STREET

M.G.R Nagar 6th Cross Street guideline value

The current guideline value of M.G.R Nagar 6th Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of M.G.R Nagar 6th Cross Street has changed

The guideline value for M.G.R Nagar 6th Cross Street has undergone several revisions over the years. In 2003, the guideline value was Rs 461 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking an increase of 8%. By 2012, the value remained at Rs 1,500 per sq.ft, showing no change from the previous revision. The next revision in 2023 also kept the value at Rs 1,500 per sq.ft, indicating stability in the value for that period. However, the most recent revision in 2024 saw an increase to Rs 1,600 per sq.ft, reflecting a rise of 7% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 247%. The revisions for the years 2002 and 2017 do not have figures registered for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that 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. The guideline value for M.G.R Nagar 6th Cross Street is below this median.

• M.G.R. Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 6th Street: 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 7th Cross 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 8th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar 6th 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 guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers M.G.R Nagar 6th Cross Street?

The M.G.R Nagar 6th Cross Street falls under 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 when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value as per government standards.

When buyers and sellers engage in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with legal requirements during the buying or selling process.

Frequently asked questions

What is the current guideline value of M.G.R Nagar 6th Cross Street?

The current guideline value of M.G.R Nagar 6th 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, showing a total increase of 247% over the years.

What are the other streets with the same guideline value in Perambur?

Other streets in Perambur with the same guideline value of Rs 1,600 per sq.ft include M.G.R. Nagar 5th Street, M.G.R. Nagar 6th Street, M.G.R Nagar 5th Cross Street, M.G.R Nagar 7th Cross Street, M.G.R. Nagar 4th Street, and M.G.R Nagar 8th Cross Street.

What is the stamp duty rate for properties in M.G.R Nagar 6th Cross Street?

The stamp duty rate for properties in M.G.R Nagar 6th Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for M.G.R Nagar 6th Cross Street located?

The Sub Registrar Office covering M.G.R Nagar 6th Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.