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Guideline Value

Corporate

Guideline Value for M.G.R. NAGAR (PANIYUR GRAMA NATHAM)

₹2800/sq.ft.

The guideline value for M.g.r. Nagar (paniyur Grama Natham) in Sholinganallur - 1 village (Neelankarai SRO, Chennai zone) is Rs 2800 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 12% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sholinganallur - 1

Village

Neelankarai

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹2800 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on M.g.r. Nagar (paniyur Grama Natham)

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M.G.R. Nagar (Paniyur Grama Natham) guideline value

The current guideline value of M.G.R. Nagar (Paniyur Grama Natham) is Rs 2,800 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of M.G.R. Nagar (Paniyur Grama Natham) has changed

The guideline value for M.G.R. Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 has raised the value to Rs 2,800 per sq.ft, marking a 12% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 67%.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, reflecting a notable rise in the guideline value during that period.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with 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, placing M.G.R. Nagar's 2024 figure above this median.

Stamp duty and registration fee for property in M.G.R. Nagar (Paniyur Grama Natham)

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the 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, totaling 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar (Paniyur Grama Natham)?

The M.G.R. Nagar area is covered by 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 plays a crucial role during the registration of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar (Paniyur Grama Natham)?

The current guideline value of M.G.R. Nagar (Paniyur Grama Natham) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 67%, rising from Rs 1,675 per sq.ft to Rs 2,800 per sq.ft.

What is the stamp duty rate for property in M.G.R. Nagar?

The stamp duty rate for property transactions in M.G.R. Nagar is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

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, with M.G.R. Nagar's 2024 figure of Rs 2,800 per sq.ft being above this median.