Guideline Value for M.G.R. NAGAR 3RD STREET

M.G.R. Nagar 3rd Street guideline value

The current guideline value of M.G.R. Nagar 3rd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - II.

How the guideline value of M.G.R. Nagar 3rd Street has changed

The guideline value for M.G.R. Nagar 3rd Street has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the guideline value increased significantly to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street in the register.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which means that M.G.R. Nagar 3rd Street's 2024 figure is below that median.

• M.G.R. Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 2nd Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 6th Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 1st Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 7th Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important 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 specific calculations.

Which Sub Registrar Office covers M.G.R. Nagar 3rd Street?

The M.G.R. Nagar 3rd Street falls under the Chennai South Joint I 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 Pallikaranai

The guideline value is a critical factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 3rd Street?

The current guideline value of M.G.R. Nagar 3rd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for M.G.R. Nagar 3rd Street?

M.G.R. Nagar 3rd Street is classified as Residential Class IV Type - II.

Which Sub Registrar Office covers M.G.R. Nagar 3rd Street?

The M.G.R. Nagar 3rd Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for property in M.G.R. Nagar 3rd Street?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.