Guideline Value for M.G.R Street

M.G.R Street guideline value

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

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

Over the years, the guideline value of M.G.R Street has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision marked a decrease to Rs 100 per sq.ft, reflecting a 33% drop from the 2012 figure. The most recent 2024 revision has reinstated the value to Rs 150 per sq.ft, resulting in no change from the previous year.

In summary, the changes from the 2017 revision to the 2023 revision saw a significant increase of 50%, while the overall change from 2012 to 2024 remains at 0%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value in the village is Rs 300 per sq.ft, placing M.G.R Street's 2024 figure below that median.

• Marathamannam koil st: Rs 300 per sq.ft (2024)
• Lingeswar Nagar: Rs 200 per sq.ft (2024)
• Lingeswarar Nagar: Rs 200 per sq.ft (2024)
• Kutty Nagar: Rs 300 per sq.ft (2024)
• Kujalamba Colony: Rs 300 per sq.ft (2024)
• Perumal Koil street: Rs 150 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 150 per sq.ft, the total 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, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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

The 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 information.

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

The guideline value is a crucial factor during the registration process when buying or selling property. It determines the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value serves as a benchmark for the transaction, ensuring that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies 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 has seen various revisions, with the 2012 and 2023 revisions both at Rs 150 per sq.ft, while the 2017 revision was Rs 100 per sq.ft. The overall change from 2012 to 2024 remains at 0%.

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

M.G.R Street is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

For a plot of 1,000 sq.ft, the total guideline value is Rs 1,50,000. The stamp duty would be Rs 10,500, and the registration fee would be Rs 3,000, totaling Rs 13,500.

Which office handles the registration for M.G.R Street?

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