Guideline Value for M.G.R Nagar ,1st Street,

M.G.R Nagar ,1st Street, guideline value

The current guideline value for M.G.R Nagar ,1st 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - II.

How the guideline value of M.G.R Nagar ,1st Street, has changed

The guideline value for M.G.R Nagar ,1st Street has seen several revisions over the years. The earliest recorded revision in 2017 set the guideline value at Rs 1,206 per sq.ft. This value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 1,980 per sq.ft.

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

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 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 M.G.R Nagar ,1st Street's 2024 figure is below the median.

• 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, 5th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 6th Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar, 7th Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar ,1st 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, bringing the total fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R Nagar ,1st Street,?

The M.G.R Nagar ,1st Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid, ensuring that transactions are conducted fairly and transparently.

When a property is sold, the guideline value is used to calculate the applicable duties. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of purchasing property in the area.

Frequently asked questions

What is the current guideline value for M.G.R Nagar ,1st Street?

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

How much has the guideline value changed since 2017?

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

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

Other streets in M.G.R Nagar have a guideline value of Rs 1,980 per sq.ft for the year 2024, including the 2nd, 3rd, 4th, 5th, 6th, and 7th streets.

Where is the Pammal Sub Registrar Office located?

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

How is stamp duty calculated in Pammal?

Stamp duty in Pammal is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.