Guideline Value for M.G.R Street

M.G.R Street guideline value

The current guideline value of M.G.R Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Katrampakkam B village under the Sriperumpudur SRO and is classified as Residential Class IV Type - I.

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

The guideline value for M.G.R Street has remained stable at Rs 150 per sq.ft from the 2023 revision to the 2024 revision, reflecting no change. Prior to this, in the 2017 revision, the guideline value was Rs 100 per sq.ft, marking a 50% increase to the 2023 figure.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for M.G.R Street. Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 50%.

Guideline values in Katrampakkam B

Katrampakkam B village features 44 streets under the Sriperumpudur SRO with 2024 guideline values ranging from Rs 150 to Rs 800 per sq.ft. M.G.R Street's 2024 figure is below the median of Rs 275 per sq.ft.

• Mettu Street: Rs 300 per sq.ft (2024)
• Mariyamman Koil Street: Rs 300 per sq.ft (2024)
• Naari Kazhani Street: Rs 150 per sq.ft (2024)
• New Bank of India Colony: Rs 300 per sq.ft (2024)
• Lakshmi Nagar Annex: Rs 250 per sq.ft (2024)
• Lakshmi Nagar: Rs 300 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 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. 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 Sub Registrar Office covering M.G.R Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is crucial during the registration process of property transactions in Katrampakkam B. It determines the minimum value at which a property can be registered, which in turn affects the stamp duty and registration fees payable by the buyer.

When purchasing or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation for tax purposes. Buyers should be aware of the guideline value to understand their financial obligations 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 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for M.G.R Street has remained at Rs 150 per sq.ft from 2023 to 2024, with a 50% increase from Rs 100 per sq.ft in 2017 to 2023. There are no figures available for the revisions in 2002, 2003, 2007, and 2012.

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

M.G.R Street is classified as Residential Class IV Type - I, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for M.G.R Street?

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

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 1,000 sq.ft plot at Rs 150 per sq.ft, the total guideline value is Rs 1,50,000, leading to a stamp duty of Rs 10,500.