Guideline Value for M.G.R NAGAR 9TH CROSS STREET

M.G.R Nagar 9th Cross Street guideline value

The current guideline value of M.G.R Nagar 9th 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, and is classified as Residential Class V Type - I.

How the guideline value of M.G.R Nagar 9th Cross Street has changed

Looking back at the revisions, the guideline value for M.G.R Nagar 9th Cross Street has seen several changes over the years. In the 2003 revision, the value was Rs 461 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking an increase of 8%. The value then jumped significantly to Rs 1,500 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. The most recent revision in 2024 has set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

There are also revisions for the years 2017 and 2002, but the register has no figure for this street in those years. 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 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. The guideline value of M.G.R Nagar 9th Cross Street is below this median.

• M.G.R Nagar 8th 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 Main Road: 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)

Stamp duty and registration fee for property in M.G.R Nagar 9th Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the 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, totaling Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R Nagar 9th Cross Street?

The Sub Registrar Office that covers M.G.R Nagar 9th 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 crucial factor during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to note that the final transaction value must meet or exceed the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of M.G.R Nagar 9th Cross Street?

The current guideline value of M.G.R Nagar 9th 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 an overall increase of 247% over the years.

What is the stamp duty for property in M.G.R Nagar 9th Cross Street?

The stamp duty for property in M.G.R Nagar 9th Cross Street is 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office is responsible for M.G.R Nagar 9th Cross Street?

The Purasaivakkam Sub Registrar Office is responsible for M.G.R Nagar 9th Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the guideline values of other streets in Perambur?

Other streets in Perambur under the Purasaivakkam SRO have guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft.