Guideline Value for M.G.R. Cross Street (Iyappan nagar)

M.G.R. Cross Street (Iyappan nagar) guideline value

The current guideline value of M.G.R. Cross Street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village and falls under the Ambattur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of M.G.R. Cross Street (Iyappan nagar) has changed

The guideline value for M.G.R. Cross Street (Iyappan nagar) has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,600 per sq.ft in 2012. However, it dropped to Rs 1,072 per sq.ft in 2017, before rising to Rs 1,600 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft. The register has no figures for the years 2002 and 2003.

Between the revisions, the changes have varied. From 2007 to 2012, there was a notable increase of 300%. However, from 2012 to 2017, the value decreased by 33%. The value then increased by 49% from 2017 to 2023, and finally, there was a 6% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 325%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets listed under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing M.G.R. Cross Street (Iyappan nagar) above this median.

• M.G.R. Cross Street (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• M.G.R. Prathana salai (Bhavani nagar): Rs 1,600 per sq.ft (2024)
• M.G.R. Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• M.G.R. Street(v.o.c.nagar): Rs 1,100 per sq.ft (2024)
• Maruthi street(Iyappan nagar): Rs 1,700 per sq.ft (2024)
• MaruthiRam Nagar Main Road (Maruthiram nagar): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Cross Street (Iyappan nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. 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 for more details on calculating fees.

Which Sub Registrar Office covers M.G.R. Cross Street (Iyappan nagar)?

The Sub Registrar Office that covers M.G.R. Cross Street (Iyappan nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ayappakkam. When buying or selling property, the guideline value is used as a basis for calculating stamp duty and registration fees. This ensures that the fees are aligned with the official valuation of the property.

Additionally, the guideline value helps in maintaining transparency in property transactions, ensuring that both buyers and sellers have a clear understanding of the property's worth as determined by the government.

Frequently asked questions

What is the current guideline value of M.G.R. Cross Street (Iyappan nagar)?

The current guideline value of M.G.R. Cross Street (Iyappan nagar) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 325% over the years.

What is the land classification for M.G.R. Cross Street (Iyappan nagar)?

The land classification for M.G.R. Cross Street (Iyappan nagar) is Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Ayappakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.