Guideline Value for M.G.R Street

M.G.R Street guideline value

The current guideline value of M.G.R Street in Madambakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

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

In the 2012 revision, the guideline value was Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased significantly to Rs 1,100 per sq.ft, representing a rise of 64%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

The register does not have figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that M.G.R Street's 2024 figure is below this median.

• M.G.R. Street Periyar Nagar: Rs 1,100 per sq.ft (2024)
• Midhantha Vinayagar Koil Street: Rs 1,300 per sq.ft (2024)
• M.G.R. 3rd Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Cross Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost together to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and 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 Street?

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

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant.

Additionally, the guideline value serves as a reference point for buyers and sellers, helping them understand the value of the property in relation to others in the area. It is essential to be aware of these values to make informed decisions during property transactions.

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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,100 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What are the other streets in Madambakkam with similar guideline values?

Other streets in Madambakkam with similar guideline values include M.G.R. Street Periyar Nagar, M.G.R. 3rd Street, M.G.R. 3rd Cross Street, M.G.R. 2nd Street, and M.G.R. 2nd Cross Street, all at Rs 1,100 per sq.ft in 2024.

Where can I find the Selaiyur Sub Registrar Office?

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

How is stamp duty calculated for properties in M.G.R Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.