Guideline Value for M.G.R STREET

M.G.R Street guideline value

The current guideline value of M.G.R Street in Thiruninravur-A village is Rs 750 per sq.ft, effective from 1 July 2024. This street falls under the Avadi SRO and is classified as Residential Class II Type - III.

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

The guideline value for M.G.R Street has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 further increased the guideline value to Rs 750 per sq.ft, which is a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 60%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,750 per sq.ft. The median value among these streets is Rs 750 per sq.ft, which is equal to the guideline value of M.G.R Street.

• M.G.R.Nagar 1 To 10 Streets: Rs 750 per sq.ft (2024)
• Mettu Street: Rs 950 per sq.ft (2024)
• Moovandar Nagar & Streets: Rs 840 per sq.ft (2024)
• M.C.B Mathura Phase IV: Rs 770 per sq.ft (2024)
• Mcb Madura Phase-II: Rs 770 per sq.ft (2024)
• Mcb Madura Phase - I: Rs 770 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty is calculated at 7%, resulting in Rs 52,500. Additionally, the registration fee is charged at 2%, which amounts to Rs 15,000. Together, the total cost for stamp duty and registration fee is Rs 67,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The M.G.R Street is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruninravur-A. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. 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 Street?

The current guideline value of M.G.R Street is Rs 750 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 from Rs 469 per sq.ft to Rs 750 per sq.ft in 2024, which is a total increase of 60% over the seven years.

What are the stamp duty and registration fees for property in M.G.R Street?

For a property valued at Rs 7,50,000, the stamp duty is Rs 52,500 and the registration fee is Rs 15,000, totaling Rs 67,500.

Which Sub Registrar Office is responsible for M.G.R Street?

The Avadi Sub Registrar Office is responsible for M.G.R Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and the median values of streets within the same area. It serves as a standard for property registration.