Guideline Value

Corporate

Guideline Value for M.G.R. NAGAR 1ST STREET

₹2800/sq.ft.

The guideline value for M.g.r. Nagar 1st Street 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 1st Street

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M.G.R. Nagar 1st Street guideline value

The current guideline value of M.G.R. Nagar 1st Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of M.G.R. Nagar 1st Street has changed

The guideline value for M.G.R. Nagar 1st Street has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% rise. With the latest revision in 2024, the value has further increased to Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 67%. It is important to note that there are no recorded figures for M.G.R. Nagar 1st Street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values 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 1st Street's 2024 figure above this median.

Stamp duty and registration fee for property in M.G.R. Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is essential 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 details.

Which Sub Registrar Office covers M.G.R. Nagar 1st Street?

The M.G.R. Nagar 1st 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. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property transactions. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property dealings and ensures that the appropriate taxes are levied based on the guideline value.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 1st Street?

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

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

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

What is the stamp duty rate for properties in M.G.R. Nagar 1st Street?

The stamp duty rate for properties in M.G.R. Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

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 are the other streets in Sholinganallur - 1 with the same guideline value?

Other streets in Sholinganallur - 1 with the same guideline value of Rs 2,800 per sq.ft include M.G.R.Nagar 2nd Cross Street, M.G.R. Nagar 2nd Street, M.G.R. Nagar 3rd Street, M.G.R. Nagar 4th Street, M.G.R. 9th Street, and M.G.R. Nagar 5th Street.