Guideline Value for M.G.R Street

M.G.R Street guideline value

The current guideline value of M.G.R Street in Mettupalayam village, under the Sunguvarchattram SRO, is Rs 181 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

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

Over the years, the guideline value for M.G.R Street has undergone several revisions. The most recent revision in 2024 maintains the value at Rs 181 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 121 per sq.ft, reflecting a 50% increase by 2023. The 2012 revision set the value at Rs 180 per sq.ft, which represents a decrease of 33% by 2017. Overall, from 2012 to 2024, there has been a slight increase of 1%.

The register has no figures for the revisions in 2002, 2003, and 2007. Therefore, the values from 2012, 2017, 2023, and 2024 are the only available references for this street.

Guideline values in Mettupalayam

Mettupalayam has a total of 45 streets under the Sunguvarchattram SRO, with the 2024 guideline values ranging from Rs 181 to Rs 900 per sq.ft. The median guideline value for these streets is Rs 181 per sq.ft, which is equal to the current value of M.G.R Street.

• Mettu Theru: Rs 181 per sq.ft (2024)
• Manthaivelli Street: Rs 181 per sq.ft (2024)
• Manthaivelli Amman Theru: Rs 181 per sq.ft (2024)
• Palash: Rs 500 per sq.ft (2024)
• PalliKooda Street: Rs 200 per sq.ft (2024)
• Palnallur Road: Rs 181 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 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would amount to Rs 12,670, and the registration fee at 2% would be Rs 3,620, bringing the total to Rs 16,290. It is important to note that the 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 more detailed calculations.

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

The Sub Registrar Office that covers M.G.R Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mettupalayam. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when buying or selling property.

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

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 181 per sq.ft from 2023 to 2024. It increased from Rs 121 per sq.ft in 2017 to Rs 181 per sq.ft in 2023, and decreased from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017.

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

M.G.R Street is classified as Residential Class II Type - I, which indicates its designated use 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 located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 12,670.