Guideline Value for M.G.R. 10TH STREET

M.G.R. 10th Street guideline value

The current guideline value of M.G.R. 10th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of M.G.R. 10th Street has changed

The guideline value for M.G.R. 10th Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of M.G.R. 10th Street is above this median.

• M.G.R. 11th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 12th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 12th Street-Jahir Hussain Street Joint Extension: Rs 1,700 per sq.ft (2024)
• M.G.R. 13th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 14th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 1st Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R. 10th Street?

The Sub Registrar Office that covers M.G.R. 10th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are appropriately calculated.

When buying or selling property, the guideline value is essential for both buyers and sellers to understand the financial implications of the transaction. It helps in assessing the costs associated with registration and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of M.G.R. 10th Street?

The current guideline value of M.G.R. 10th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2024, showing an overall increase of 67% over this period.

What is the stamp duty rate for properties in M.G.R. 10th Street?

The stamp duty rate for properties in M.G.R. 10th Street is 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for M.G.R. 10th Street?

The Neelankarai Sub Registrar Office handles property registrations for M.G.R. 10th Street.

Are there other streets with the same guideline value in Sholinganallur - 1?

Yes, several other streets in Sholinganallur - 1 have the same guideline value of Rs 2,800 per sq.ft in 2024, including M.G.R. 11th Street, M.G.R. 12th Street, M.G.R. 13th Street, M.G.R. 14th Street, and M.G.R. 1st Cross Street.