Guideline Value for M.G.R. NAGAR KALANINGAR STREET

M.G.R. Nagar Kalaningar Street guideline value

The current guideline value of M.G.R. Nagar Kalaningar Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - II.

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

The guideline value for M.G.R. Nagar Kalaningar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then decreased to Rs 804 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2023, and then further increased to the current value of Rs 1,320 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value per sq.ft.

Guideline values in Pallikaranai

Pallikaranai has 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft as of 2024. The median guideline value in this area is Rs 1,650 per sq.ft, placing M.G.R. Nagar Kalaningar Street's 2024 figure below this median.

• M.G.R. Nagar Main Road: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 7tn 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 5th Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 4th Street: Rs 1,320 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 1,320 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and 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.

For more detailed calculations, you can use our stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers M.G.R. Nagar Kalaningar Street is 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 crucial factor during property registration in Pallikaranai. It serves as a baseline for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction value is in line with government assessments. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Over the years, the guideline value has experienced various revisions, with the most significant changes occurring between 2017 and 2023, where it increased by 49%. The overall change from 2012 to 2024 shows an increase of 10%.

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

The land classification for M.G.R. Nagar Kalaningar Street is Residential Class IV Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office for M.G.R. Nagar Kalaningar Street is 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.

How is the stamp duty calculated for properties in Pallikaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 13,20,000, the stamp duty would be 7% of that amount.