Guideline Value for M.G.R. 13TH STREET

M.G.R. 13th Street guideline value

The current guideline value of M.G.R. 13th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of M.G.R. 13th Street has changed

The guideline value register for M.G.R. 13th Street has undergone several revisions. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, reflecting a 12% increase from the 2023 revision, which was Rs 2,500 per sq.ft. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002, indicating that there were no recorded guideline values for this street during those years.

To summarize the changes, the guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024. This increase signifies a notable adjustment in the valuation of properties along M.G.R. 13th 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. The median guideline value for these streets is Rs 2,200 per sq.ft, placing M.G.R. 13th Street above this median value.

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

Stamp duty and registration fee for property in M.G.R. 13th 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, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these charges to Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. 13th Street?

The M.G.R. 13th Street is covered by 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 more details.

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 is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of M.G.R. 13th Street?

The current guideline value of M.G.R. 13th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification of M.G.R. 13th Street?

M.G.R. 13th Street falls under the Residential Class II Type - II land classification, indicating its use for residential purposes.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft, the total guideline value would be Rs 28,00,000, leading to a total cost of Rs 2,52,000 for these charges.

Which office handles registrations for M.G.R. 13th Street?

The Neelankarai Sub Registrar Office is responsible for handling registrations for M.G.R. 13th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.