Guideline Value for M.G.R Nagar Main Road

M.G.R Nagar Main Road guideline value

The current guideline value for M.G.R Nagar Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This road is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class III Type - II.

How the guideline value of M.G.R Nagar Main Road has changed

The guideline value for M.G.R Nagar Main Road has experienced several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was later reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

In summary, from 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which means that M.G.R Nagar Main Road's 2024 figure is below that median.

• M.G.R. Nagar Open gate: Rs 1,100 per sq.ft (2024)
• M.G.R. Main Road: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Street: Rs 1,100 per sq.ft (2024)
• M.G.R 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R. Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees together Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.G.R Nagar Main Road?

The M.G.R Nagar Main Road is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum price at which a property can be sold and is used to calculate the applicable stamp duty and registration fees.

When registering a property, the buyer must ensure that the sale price is equal to or greater than the guideline value. This ensures compliance with local regulations and helps in the accurate assessment of fees due at the time of registration.

Frequently asked questions

What is the current guideline value for M.G.R Nagar Main Road?

The current guideline value for M.G.R Nagar Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is higher than the current guideline value for M.G.R Nagar Main Road.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at Rs 1,100 per sq.ft, the total fees would amount to Rs 99,000.

Where can I find the Sub Registrar Office for M.G.R Nagar Main Road?

The Sub Registrar Office covering M.G.R Nagar Main Road is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information on how to locate your SRO.