Guideline Value for M.G.R. 9TH STREET

M.G.R. 9th Street guideline value

The current guideline value of M.G.R. 9th Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of M.G.R. 9th Street has changed

The guideline value for M.G.R. 9th Street has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,675 per sq.ft, which was then increased to Rs 2,800 per sq.ft in the 2024 revision, reflecting a change of +67% over this period. The register has no figure for this street for the years 2023, 2012, 2007, 2003, and 2002.

From 2017 to 2024, the guideline value increased from Rs 1,675 to Rs 2,800 per sq.ft. This revision highlights the notable upward adjustment in property values within this timeframe.

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. 9th Street above this median.

• M.G.R. 8th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 7th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 6th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 5th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 4th Street: Rs 2,800 per sq.ft (2024)
• M.G.R. 3rd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. 9th 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, bringing the total charges 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers M.G.R. 9th Street?

The M.G.R. 9th 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 critical factor in property transactions within Sholinganallur - 1, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the stamp duty and registration fees applicable during the transaction.

When purchasing property, it is essential to be aware that the guideline value will influence the overall costs associated with the registration process. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of M.G.R. 9th Street?

The current guideline value of M.G.R. 9th Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,675 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2024, a change of +67%. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for M.G.R. 9th Street?

M.G.R. 9th Street is classified as Residential Class II Type - II under the Neelankarai SRO.

How is stamp duty calculated for properties in M.G.R. 9th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,96,000.

Where can I find the Sub Registrar Office for M.G.R. 9th Street?

The Neelankarai Sub Registrar Office covers M.G.R. 9th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.