Guideline Value for M.G.R Street

M.G.R Street guideline value

The current guideline value of M.G.R Street in Thiruneermalai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class III Type - I.

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

The guideline value for M.G.R Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision listed the value at Rs 804 per sq.ft, which means there was a significant increase of 49% from 2017 to 2023 and an overall increase of 64% from 2017 to 2024. The register has no figure for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, indicating that M.G.R Street's 2024 figure is below that median.

• Mettu Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Mettu Street 1st Street: Rs 2,200 per sq.ft (2024)
• Mettu Street: Rs 2,200 per sq.ft (2024)
• Meenakshi Nagar: Rs 2,200 per sq.ft (2024)
• Muniappan Street: Rs 2,200 per sq.ft (2024)
• Muniyapillai Street: Rs 2,200 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Please note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers M.G.R Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When you register a property, the guideline value is assessed to ensure that the transaction reflects the official value set by the authorities. This helps in maintaining transparency and consistency in property dealings.

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 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,320 per sq.ft in 2024, showing an overall increase of 64% over this period.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

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

The Pammal Sub Registrar Office covers M.G.R Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

M.G.R Street is classified as Residential Class III Type - I, which indicates the type of development permissible in this area.