Guideline Value for M.G.R Street (colony)

M.G.R Street (colony) guideline value

The current guideline value of M.G.R Street (colony) in Vattampakkam village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Class II Type - I.

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

The guideline value for M.G.R Street (colony) has seen several revisions over the years. In 2012, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the value returned to Rs 200 per sq.ft, and this figure remained the same in the 2024 revision, indicating no change from the previous year.

From 2017 to 2023, there was an increase of 49%, but the overall change from 2012 to 2024 shows no net change, as the value in 2012 was also Rs 200 per sq.ft. The guideline register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,790 per sq.ft. The median value among these streets is Rs 250 per sq.ft, which means M.G.R Street (colony) is below this median value.

• Mother Land: Rs 250 per sq.ft (2024)
• MuthuMariamman Kovil Street (colony): Rs 200 per sq.ft (2024)
• Main Road: Rs 250 per sq.ft (2024)
• Lakshmi Nagar: Rs 448 per sq.ft (2024)
• OMS green city: Rs 1,790 per sq.ft (2024)
• Parivender Nagar: Rs 500 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R Street (colony)?

The Sub Registrar Office covering M.G.R Street (colony) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, 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 Vattampakkam

The guideline value plays a crucial role during property transactions in Vattampakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers must ensure that they are aware of the current guideline value to accurately calculate these fees.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of M.G.R Street (colony)?

The current guideline value of M.G.R Street (colony) is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 200 per sq.ft from 2012 to 2024, with a decrease to Rs 134 per sq.ft in 2017 and an increase back to Rs 200 per sq.ft in 2023.

What is the registration office for M.G.R Street (colony)?

The registration office for M.G.R Street (colony) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What are the stamp duty rates applicable for properties in M.G.R Street (colony)?

The stamp duty for properties in M.G.R Street (colony) is charged at 7% of the guideline value or sale price, whichever is higher.

Are there other streets with different guideline values in Vattampakkam?

Yes, there are several other streets in Vattampakkam with varying guideline values, ranging from Rs 200 to Rs 1,790 per sq.ft, with a median value of Rs 250 per sq.ft.