Guideline Value for M.G.R NAGAR 8TH CROSS STREET

M.G.R Nagar 8th Cross Street guideline value

The current guideline value for M.G.R Nagar 8th 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 8th Cross Street has changed

The guideline value for M.G.R Nagar 8th Cross Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 461 per sq.ft. This increased to Rs 500 per sq.ft in 2007, marking a change of +8%. The 2012 revision maintained the value at Rs 1,500 per sq.ft, showing no change from the previous figure. The 2023 revision also kept the value at Rs 1,500 per sq.ft, again with no change.

The most recent revision in 2024 saw a significant increase to Rs 1,600 per sq.ft, which reflects a change of +7% from the 2023 figure. Overall, from 2003 to 2024, the guideline value has increased by +247%.

Guideline values in Perambur

In Perambur, 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. M.G.R Nagar 8th Cross Street's 2024 figure is below this median.

• M.G.R Nagar 9th 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 6th Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 6th Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar 8th 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. Together, these fees amount to Rs 1,44,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R Nagar 8th Cross Street?

The Sub Registrar Office that covers M.G.R Nagar 8th 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 plays a crucial role in the registration process of property transactions in Perambur. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for M.G.R Nagar 8th Cross Street?

The current guideline value for M.G.R Nagar 8th 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?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office covers M.G.R Nagar 8th Cross Street?

The Purasaivakkam Sub Registrar Office covers M.G.R Nagar 8th Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for M.G.R Nagar 8th Cross Street?

The land classification for M.G.R Nagar 8th Cross Street is Residential Class V Type - I.