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 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class III Type - I.

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

The guideline value for M.G.R. 3rd Cross Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, indicating that the 2024 figure for M.G.R. 3rd Cross Street is below this median.

• M.G.R. 3rd Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Street: Rs 1,100 per sq.ft (2024)
• M.G.R. 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• M.G.R 1st Street: Rs 1,100 per sq.ft (2024)
• M.G.R 1st Cross 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. 3rd 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 amounts to 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. It is important to note that 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 further assistance.

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

The M.G.R. 3rd Cross Street falls under 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 when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to assess the official value of the property. This value is essential for calculating the applicable taxes and fees, which are based on the guideline value or the sale price, whichever is higher.

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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

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

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

The Selaiyur Sub Registrar Office covers M.G.R. 3rd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, with M.G.R. 3rd Cross Street's guideline value being below this median.