Guideline Value for M.G.R. Main Road

M.G.R. Main Road guideline value

The current guideline value of M.G.R. Main Road is Rs 1,100 per sq.ft, effective from 1 July 2024. This road is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class III Type - II.

How the guideline value of M.G.R. Main Road has changed

The guideline value for M.G.R. Main Road has undergone several revisions over the years. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this figure dropped to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

In total, from the 2007 revision to the current 2024 figure, there has been an overall increase of 340%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for the village is Rs 2,200 per sq.ft, placing M.G.R. Main Road's 2024 value below that median.

• M.G.R. 3rd Street: Rs 1,100 per sq.ft (2024)
• M.G.R 3rd Cross 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 Main Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Main Road?

The M.G.R. Main Road is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite 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 Chembakkam

The guideline value is a crucial factor when buying or selling property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must refer to this value to ensure compliance with local regulations when registering property.

When a property is sold, the sale price or the guideline value, whichever is higher, will be used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.G.R. Main Road?

The current guideline value of M.G.R. Main Road 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 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, with M.G.R. Main Road's 2024 value being below this median.

What are the stamp duty and registration fees for property in M.G.R. Main Road?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for M.G.R. Main Road?

The Selaiyur Sub Registrar Office handles registrations for M.G.R. Main Road, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.