Guideline Value for M.G.R Nagar ,6th Street

M.G.R Nagar ,6th Street guideline value

The current guideline value of M.G.R Nagar ,6th 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 it falls under the Residential Class II Type - II land classification.

How the guideline value of M.G.R Nagar ,6th Street has changed

The guideline value for M.G.R Nagar ,6th Street has seen several revisions over the years. The earliest recorded revision was in 2017, where the value was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. Notably, there are no figures available for the revisions in 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 in Pammal is Rs 2,090 per sq.ft, indicating that M.G.R Nagar ,6th Street's 2024 figure is below this median.

• M.G.R Nagar , 5th 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 ,4th 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, 2nd Street: Rs 1,980 per sq.ft (2024)
• M.G.R Nagar ,1st Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar ,6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total fees together 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.G.R Nagar ,6th Street?

The M.G.R Nagar ,6th Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall costs involved in the transaction. Buyers should be aware that the duty is charged based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of M.G.R Nagar ,6th Street?

The current guideline value of M.G.R Nagar ,6th Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which means that M.G.R Nagar ,6th Street's 2024 value is below this median.

What are the stamp duty rates for property in M.G.R Nagar ,6th Street?

The stamp duty rate for property transactions in M.G.R Nagar ,6th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for M.G.R Nagar ,6th Street located?

The Sub Registrar Office covering M.G.R Nagar ,6th Street is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.