Guideline Value for M.G.R. 6TH STREET

M.G.R. 6th Street guideline value

The current guideline value of M.G.R. 6th 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. 6th Street has changed

The guideline value register for M.G.R. 6th Street has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, which took effect on 1 July 2024, sets the guideline value at Rs 2,800 per sq.ft.

As there are no previous figures recorded for this street, the 2024 revision marks the first entry in the guideline value register for M.G.R. 6th 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 value for these streets is Rs 2,200 per sq.ft, and M.G.R. 6th Street's 2024 figure is above this median.

• M.G.R. 5th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 7th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 4th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 8th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 3rd Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 9th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to 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 to estimate your costs.

Which Sub Registrar Office covers M.G.R. 6th Street?

The M.G.R. 6th 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.

To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives due revenue through stamp duty and registration fees.

When buying or selling property, the guideline value can influence negotiations, as it reflects the official valuation of the property. Buyers and sellers should be aware of this value to ensure compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of M.G.R. 6th Street?

The current guideline value of M.G.R. 6th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

Which Sub Registrar Office covers M.G.R. 6th Street?

The Neelankarai Sub Registrar Office covers M.G.R. 6th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How has the guideline value changed over the years?

The guideline value register for M.G.R. 6th Street has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The current value of Rs 2,800 per sq.ft is the first recorded figure for this street.

What are the stamp duty and registration fees for M.G.R. 6th Street?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000. These fees are based on the guideline value or the sale price, whichever is higher.

What is the median guideline value for streets in Sholinganallur - 1?

The median guideline value for streets in Sholinganallur - 1 is Rs 2,200 per sq.ft. M.G.R. 6th Street's 2024 figure of Rs 2,800 per sq.ft is above this median.