Guideline Value for M.G.R. 2nd Cross Street

M.G.R. 2nd Cross Street guideline value

The current guideline value of M.G.R. 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of M.G.R. 2nd Cross Street has changed

The guideline value for M.G.R. 2nd Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,100 per sq.ft, a significant increase from Rs 670 per sq.ft in the 2017 revision, marking a change of +64%. Prior to that, the 2012 revision listed the value at Rs 1,000 per sq.ft, which was a decrease of -33% from the 2017 figure.

There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. Overall, comparing the 2012 figure to the 2024 figure shows a slight increase of +10% over the twelve-year period.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, indicating that M.G.R. 2nd Cross Street's 2024 figure is below this median.

• M.G.R 1st Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Street: Rs 1,100 per sq.ft (2024)
• M.G.R 1st Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 3rd Street: Rs 1,100 per sq.ft (2024)
• M.G.R Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to 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 accurate calculations.

Which Sub Registrar Office covers M.G.R. 2nd Cross Street?

The Sub Registrar Office that covers M.G.R. 2nd Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value serves as the baseline for calculating stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of M.G.R. 2nd Cross Street?

The current guideline value of M.G.R. 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, which is a change of +64%. However, it decreased from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017.

What is the land classification of M.G.R. 2nd Cross Street?

M.G.R. 2nd Cross Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for buying property here?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers M.G.R. 2nd Cross Street?

The Selaiyur Sub Registrar Office covers M.G.R. 2nd Cross Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.