Guideline Value for M.G.R. NAGAR 6TH STREET

M.G.R. Nagar 6th Street guideline value

The current guideline value of M.G.R. Nagar 6th 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 6th Street has changed

Over the years, the guideline value of M.G.R. Nagar 6th Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, this value decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision set the value at Rs 1,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

In terms of percentage changes, the guideline value rose by 200% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, there was a substantial increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 220%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

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. M.G.R. Nagar 6th Street's guideline value is below this median.

• M.G.R Nagar 7th Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 6th 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 8th Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 5th Cross Street: Rs 1,600 per sq.ft (2024)
• M.G.R Nagar 9th Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to 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 and the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.G.R. Nagar 6th Street?

The Sub Registrar Office that covers M.G.R. Nagar 6th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency in property transactions and helps in maintaining a fair record of property values in the area.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar 6th Street?

The current guideline value of M.G.R. Nagar 6th 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 changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 220% over the years.

Where can I find the Sub Registrar Office for M.G.R. Nagar 6th Street?

The Sub Registrar Office for M.G.R. Nagar 6th 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 property in M.G.R. Nagar 6th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,44,000.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and to calculate applicable stamp duty and registration fees during transactions.