Guideline Value for M.G.R. 3RD STREET

M.G.R. 3rd Street guideline value

The current guideline value of M.G.R. 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of M.G.R. 3rd Street has changed

The guideline value register for M.G.R. 3rd Street shows no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, where the guideline value is set at Rs 2,800 per sq.ft.

As there are no figures available for previous revisions, we can only confirm the current guideline value of Rs 2,800 per sq.ft from the 2024 revision. There have been no changes between the revisions above.

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. 3rd Street's 2024 figure above this median.

• M.G.R. 2nd Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 4th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 5th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 1st Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 6th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. 3rd 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, leading to a total of 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. 3rd Street?

The M.G.R. 3rd Street falls under 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 is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.G.R. 3rd Street?

The current guideline value of M.G.R. 3rd Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

Which Sub Registrar Office covers M.G.R. 3rd Street?

The Neelankarai Sub Registrar Office covers M.G.R. 3rd Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in M.G.R. 3rd Street?

Stamp duty for properties in M.G.R. 3rd Street is calculated at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.

What is the land classification for M.G.R. 3rd Street?

The land classification for M.G.R. 3rd Street is Residential Class II Type - II, indicating its suitability for residential development.

Are there any previous guideline value revisions for M.G.R. 3rd Street?

The guideline value register shows no figures for M.G.R. 3rd Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, where the guideline value is set at Rs 2,800 per sq.ft.