Guideline Value for M.G.R Street

M.G.R Street guideline value

The current guideline value of M.G.R Street in Kolathur village is Rs 200 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the jurisdiction of the Sriperumpudur SRO and is classified as Residential Class II Type - I.

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

In the 2012 revision, the guideline value was Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 200 per sq.ft in the 2023 revision, reflecting a 49% increase from the 2017 figure. The 2024 revision maintained this value at Rs 200 per sq.ft, showing no change from the previous year.

The guideline value register has no figures for M.G.R Street in the years 2002, 2003, and 2007. Therefore, the changes noted are only between the years where figures are available.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO with guideline values ranging from Rs 100 to Rs 1,300 per sq.ft, with a median value of Rs 250 per sq.ft. M.G.R Street's 2024 guideline value of Rs 200 per sq.ft is below this median.

• M.G.R Main Road: Rs 200 per sq.ft (2024)
• Main Road: Rs 600 per sq.ft (2024)
• Laskhmi Land: Rs 250 per sq.ft (2024)
• Lakshmi Nagar: Rs 250 per sq.ft (2024)
• Palla Street: Rs 100 per sq.ft (2024)
• Perumal Koil Street: Rs 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 200 per sq.ft, the 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, making the total Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

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

The M.G.R Street is covered by 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 Kolathur

The guideline value plays a crucial role during the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to ensure that the sale price is not below this value. This helps maintain transparency and fairness in property transactions, as buyers and sellers are guided by a standardized valuation.

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 changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023 and remained at that value in 2024.

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

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

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

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

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a 1,000 sq.ft plot at Rs 200 per sq.ft, the total stamp duty would be Rs 14,000.