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

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

The current guideline value of M.G.R. Cross Street (Bhavani nagar) is Rs 1,600 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 - III.

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

The guideline value for M.G.R. Cross Street (Bhavani nagar) has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this value decreased to Rs 1,005 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 1,500 per sq.ft, and the latest revision in 2024 sees it at Rs 1,600 per sq.ft. There are no figures available for the years 2002 and 2003 in the register for this street.

In terms of percentage changes, the value rose by 275% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 represents a 7% increase. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Ayappakkam

Ayappakkam has a total of 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, placing M.G.R. Cross Street (Bhavani nagar) above this median with its current value of Rs 1,600 per sq.ft.

• M.G.R. Cross Street (Iyappan nagar): Rs 1,700 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 (Bhavani nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more specific calculations.

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

The Sub Registrar Office that covers M.G.R. Cross Street (Bhavani nagar) is the Ambattur Sub Registrar Office. The address is 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 is a crucial factor in the registration process when buying or selling property in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the registration office will assess the guideline value to ensure that the correct fees are collected based on the higher of the guideline value or the sale price. This ensures that all transactions are fairly valued for taxation purposes.

Frequently asked questions

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

The current guideline value of M.G.R. Cross Street (Bhavani nagar) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, marking an overall increase of 300% over the years.

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

The land classification for M.G.R. Cross Street (Bhavani nagar) is Residential Special Type - III.

Where can I find the Sub Registrar Office for M.G.R. Cross Street (Bhavani nagar)?

The Sub Registrar Office for M.G.R. Cross Street (Bhavani nagar) is the Ambattur Sub Registrar Office, 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, if the guideline value is Rs 16,00,000, the stamp duty at 7% would be Rs 1,12,000.