Guideline Value for M.G.R Nagar ,3rd Street

M.G.R Nagar ,3rd Street guideline value

The current guideline value of M.G.R Nagar ,3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of M.G.R Nagar ,3rd Street has changed

The guideline value for M.G.R Nagar ,3rd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a change of +10%. Prior to that, in 2017, the value was Rs 1,206 per sq.ft, indicating a significant increase of +49% from 2017 to 2023. Overall, from 2017 to 2024, the guideline value has risen by +64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing M.G.R Nagar ,3rd Street's 2024 value 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 ,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 ,3rd 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, while the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.G.R Nagar ,3rd Street?

The Sub Registrar Office that covers M.G.R Nagar ,3rd 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 in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of M.G.R Nagar ,3rd Street?

The current guideline value of M.G.R Nagar ,3rd Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by +64%, from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024. The change from 2023 to 2024 was +10%.

What is the land classification of M.G.R Nagar ,3rd Street?

M.G.R Nagar ,3rd Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in M.G.R Nagar ,3rd Street?

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for M.G.R Nagar ,3rd Street?

The Pammal Sub Registrar Office is responsible for registrations in M.G.R Nagar ,3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.