Guideline Value for M.G.R Street

M.G.R Street guideline value

The current guideline value of M.G.R Street in Vada Mangalam village is Rs 200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is 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 seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 200 per sq.ft. In 2017, the value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, it rebounded to Rs 200 per sq.ft in 2023 and remained unchanged in the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The overall change from 2012 to 2024 shows no increase, as the value has remained at Rs 200 per sq.ft since 2012. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 400 per sq.ft. The median guideline value in the village is Rs 250 per sq.ft, which means M.G.R Street's 2024 figure is below that median.

• Mooventhar Street: Rs 200 per sq.ft (2024)
• M.B.C Street: Rs 250 per sq.ft (2024)
• Narayana Nagar-II: Rs 350 per sq.ft (2024)
• N.S.K Salai: Rs 350 per sq.ft (2024)
• Kullakarai Street: Rs 200 per sq.ft (2024)
• Periyapallaiyathamman Kovil 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 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 cost for these fees to Rs 18,000. Please note that the duty is charged on the higher of the guideline value and the sale price. 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 that covers M.G.R Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Vada Mangalam. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

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 for M.G.R Street has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017 before recovering to Rs 200 per sq.ft in 2023 and 2024.

What is the median guideline value in Vada Mangalam?

The median guideline value in Vada Mangalam is Rs 250 per sq.ft, with M.G.R Street's value being below this median.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 200 per sq.ft, the total fees would amount to Rs 18,000.

Where is the Sub Registrar Office for M.G.R Street located?

The Sub Registrar Office for M.G.R Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.