Guideline Value

Corporate

Guideline Value for M.G.R. NAGAR 2ND STREET

₹880/sq.ft.

The guideline value for M.g.r. Nagar 2nd Street in Koladi village (Chennai South Joint Ii SRO, Chennai zone) is Rs 880 per sq.ft, effective 1 July 2024. It was Rs 800 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Koladi

Village

Chennai South Joint II

SRO

Residential Class II Type - II
History
Period Guideline Value
From 1-7-2024 ₹880 /sq.ft.
From 1-4-2023 ₹800 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹536 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹800 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
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)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510538
[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 2nd Street

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M.G.R. Nagar 2nd Street guideline value

The current guideline value of M.G.R. Nagar 2nd Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of M.G.R. Nagar 2nd Street has changed

The guideline value for M.G.R. Nagar 2nd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 536 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase to Rs 800 per sq.ft in 2023, and now stands at Rs 880 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for M.G.R. Nagar 2nd Street is below this median.

Stamp duty and registration fee for property in M.G.R. Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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.

Which Sub Registrar Office covers M.G.R. Nagar 2nd Street?

The M.G.R. Nagar 2nd Street falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Koladi. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must refer to the guideline value to ensure compliance with the legal requirements during the sale process.

When a property is bought or sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 2nd Street?

The current guideline value of M.G.R. Nagar 2nd Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the stamp duty rate for properties in M.G.R. Nagar 2nd Street?

The stamp duty rate for properties in M.G.R. Nagar 2nd Street is 7% of the guideline value or sale price, whichever is higher.

What is the registration fee for properties in this area?

The registration fee for properties in M.G.R. Nagar 2nd Street is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for M.G.R. Nagar 2nd Street?

The Sub Registrar Office for M.G.R. Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.