Guideline Value for M.G.R. 3rd Cross Street

M.G.R. 3rd Cross Street guideline value

The current guideline value of M.G.R. 3rd Cross Street is Rs 2,350 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village under the Pammal SRO and falls under the Residential Class III Type - I land classification.

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

The guideline value for M.G.R. 3rd Cross Street has seen several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 1,407 per sq.ft. This increased to Rs 2,099 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,350 per sq.ft, reflecting a 12% increase from the previous year. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. The steady rise in the guideline value indicates the changing landscape of property values in the area.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing M.G.R. 3rd Cross Street's 2024 figure above that median.

• M.G.R. 2nd Cross Street: Rs 2,350 per sq.ft (2024)
• M.G.R. Ist Cross Street: Rs 2,350 per sq.ft (2024)
• MGR Nagar: Rs 1,760 per sq.ft (2024)
• M.G.R. Nagar 2nd Street: Rs 2,350 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 2,350 per sq.ft (2024)
• M.G.R. Nagar Ist Street: Rs 2,350 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,350 per sq.ft, the guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total to Rs 2,11,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

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

The M.G.R. 3rd Cross Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay when registering a property. This value is set by the government and is updated periodically to reflect changes in the real estate market.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, regardless of fluctuations in market prices.

Frequently asked questions

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

The current guideline value of M.G.R. 3rd Cross Street is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,407 per sq.ft in 2017 to Rs 2,350 per sq.ft in 2024, marking an overall increase of 67% over this period.

What is the stamp duty rate for properties in M.G.R. 3rd Cross Street?

The stamp duty rate for properties in M.G.R. 3rd Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. Buyers must pay the duty based on the higher of the guideline value or the sale price, ensuring the government receives appropriate revenue from property sales.