Guideline Value for M.G.R Nagar Nethaji Street

M.G.R Nagar Nethaji Street guideline value

The current guideline value for M.G.R Nagar Nethaji Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of M.G.R Nagar Nethaji Street has changed

The guideline value for M.G.R Nagar Nethaji Street has undergone several revisions over the years. The earliest figure available is from 2012, where the guideline value was Rs 1,300 per sq.ft. This was followed by a decrease to Rs 871 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 1,300 per sq.ft in the 2023 revision, and then further rose to Rs 1,400 per sq.ft in the 2024 revision, reflecting an 8% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. M.G.R Nagar Nethaji Street's current value of Rs 1,400 per sq.ft is below this median.

• M.G.R Street: Rs 1,400 per sq.ft (2024)
• M.G.R Nagar: Rs 2,900 per sq.ft (2024)
• Mohan Street: Rs 2,200 per sq.ft (2024)
• MES Colony: Rs 950 per sq.ft (2024)
• Moovar Street: Rs 2,200 per sq.ft (2024)
• Mayanapuram 5th Street: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R Nagar Nethaji Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty, charged at 7%, would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total to Rs 1,26,000. 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 details.

Which Sub Registrar Office covers M.G.R Nagar Nethaji Street?

The Sub Registrar Office that covers M.G.R Nagar Nethaji Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Selaiyur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that transactions are conducted transparently and fairly.

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

Frequently asked questions

What is the current guideline value of M.G.R Nagar Nethaji Street?

The current guideline value of M.G.R Nagar Nethaji Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, then back to Rs 1,300 per sq.ft in 2023, and finally to Rs 1,400 per sq.ft in 2024.

What is the land classification for M.G.R Nagar Nethaji Street?

The land classification for M.G.R Nagar Nethaji Street is Residential Class III Type - I.

What are the other streets in Selaiyur with their guideline values?

Other streets in Selaiyur include M.G.R Street at Rs 1,400 per sq.ft, M.G.R Nagar at Rs 2,900 per sq.ft, Mohan Street at Rs 2,200 per sq.ft, MES Colony at Rs 950 per sq.ft, Moovar Street at Rs 2,200 per sq.ft, and Mayanapuram 5th Street at Rs 2,900 per sq.ft.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.