Guideline Value for M.G.R Nagar

M.G.R Nagar guideline value

The current guideline value of M.G.R Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Chembarambakkam village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

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

The guideline value for M.G.R Nagar has seen 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 value increased significantly to Rs 1,000 per sq.ft in 2023, and then to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. However, the change from the 2012 revision to the 2017 revision saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figure for M.G.R Nagar for the years 2002, 2003, and 2007.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value of M.G.R Nagar.

• Mgr Nagar 100/1: Rs 878 per sq.ft (2024)
• Mithila: Rs 3,960 per sq.ft (2024)
• Manikandan Nagar: Rs 1,100 per sq.ft (2024)
• Lime Light: Rs 2,300 per sq.ft (2024)
• Lakshmipuram Annex: Rs 1,100 per sq.ft (2024)
• Nedunchalai: Rs 878 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost 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 use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers M.G.R Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chembarambakkam. It is used to determine the stamp duty and registration fees payable at the time of property registration.

Frequently asked questions

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

The current guideline value of M.G.R Nagar 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 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 Chembarambakkam?

The median guideline value in Chembarambakkam is Rs 1,100 per sq.ft, which is the same as the current value for M.G.R Nagar.

What are the stamp duty and registration fees for M.G.R Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, with a stamp duty of Rs 77,000 and a registration fee of Rs 22,000, totaling Rs 99,000.

Which office handles property registration for M.G.R Nagar?

The Poonamallee Sub Registrar Office handles property registration for M.G.R Nagar, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.