Guideline Value for M.G.R Street

M.G.R Street guideline value

The current guideline value of M.G.R Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Ayakolathur village under the Sriperumpudur SRO, classified as Residential Class II 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 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. The value then increased significantly by 49% to Rs 200 per sq.ft in the 2023 revision. The current 2024 revision maintains this rate at Rs 200 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Ayakolathur

In Ayakolathur village, there are 15 streets under the Sriperumpudur SRO that carry a 2024 guideline value, with rates ranging from Rs 100 to Rs 700 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the guideline value of M.G.R Street.

• Main Road: Rs 700 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Kakkajji Street: Rs 150 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 300 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 150 per sq.ft (2024)
• Sri Arulmigu Sri Arunchala Nagar: Rs 500 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 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 to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

M.G.R Street falls under the jurisdiction of the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Ayakolathur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with local regulations and to avoid any potential legal issues during the registration process.

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

How has the guideline value changed over the years?

The guideline value has remained 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 are the stamp duty and registration fees for properties in M.G.R Street?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

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

The Sriperumpudur Sub Registrar Office at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone covers M.G.R Street.

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

M.G.R Street is classified as Residential Class II Type - I under the guideline value regulations.