Guideline Value for M.G.R Nagar , 5th Street

M.G.R Nagar , 5th Street guideline value

The current guideline value for M.G.R Nagar , 5th Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of M.G.R Nagar , 5th Street has changed

The guideline value for M.G.R Nagar , 5th Street has undergone several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This was followed by a significant increase to Rs 1,800 per sq.ft in the 2023 revision, marking a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which means that the guideline value for M.G.R Nagar , 5th Street is below this median.

• M.G.R Nagar , 1st Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar , 2nd Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar , 3rd Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar , 4th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar , 7th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar , 6th Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar , 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. 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 detailed calculations.

Which Sub Registrar Office covers M.G.R Nagar , 5th Street?

The Sub Registrar Office that covers M.G.R Nagar , 5th Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs incurred during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of M.G.R Nagar , 5th Street?

The current guideline value of M.G.R Nagar , 5th Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, representing an overall increase of 64%.

What are the other streets in M.G.R Nagar and their guideline values?

Other streets in M.G.R Nagar have the same guideline value of Rs 1,980 per sq.ft for 2024. These include the 1st, 2nd, 3rd, 4th, 6th, and 7th Streets.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is stamp duty calculated for property in M.G.R Nagar , 5th Street?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. These fees are based on the higher of the guideline value or the sale price of the property.