Guideline Value for M.G.R. NAGAR 4TH STREET

M.G.R. Nagar 4th Street guideline value

The current guideline value of M.G.R. Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of M.G.R. Nagar 4th Street has changed

In the 2007 revision, the guideline value was Rs 500 per sq.ft. This figure increased significantly in the 2012 revision to Rs 1,500 per sq.ft, marking a 200% increase. The value remained unchanged at Rs 1,500 per sq.ft until the 2023 revision, which also recorded Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value rose to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for M.G.R. Nagar 4th Street in the 2017, 2003, and 2002 revisions. Overall, from 2007 to 2024, the guideline value has increased by 220%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of M.G.R. Nagar 4th Street is below this median.

• M.G.R Nagar 5th Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 4th Link (Inaippu) Road: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 4th Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 6th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. 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 precise calculations.

Which Sub Registrar Office covers M.G.R. Nagar 4th Street?

The Sub Registrar Office that covers M.G.R. Nagar 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are essential components of the registration process and must be paid to complete the transaction legally.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 4th Street?

The current guideline value of M.G.R. Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, a 7% increase. The value has increased overall by 220% from Rs 500 per sq.ft in 2007 to the current rate.

Where can I find the registration office for M.G.R. Nagar 4th Street?

The registration office for M.G.R. Nagar 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Are there other streets with the same guideline value in Perambur?

Yes, several other streets in Perambur have the same guideline value of Rs 1,600 per sq.ft in 2024, including M.G.R Nagar 5th Cross Street, M.G.R Nagar 4th Link (Inaippu) Road, M.G.R Nagar 4th Cross Street, M.G.R. Nagar 5th Street, M.G.R. Nagar 3rd Street, and M.G.R Nagar 6th Cross Street.