Guideline Value for M.G.R. NAGAR MAIN ROAD

M.G.R. Nagar Main Road guideline value

The current guideline value of M.G.R. Nagar Main Road is Rs 1,600 per sq.ft, effective from 1 July 2024. This road 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 Main Road has changed

The guideline value for M.G.R. Nagar Main Road has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, showing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, which is a 7% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. 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 have 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 for M.G.R. Nagar Main Road is below this median.

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

Stamp duty and registration fee for property in M.G.R. Nagar Main Road

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 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.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R. Nagar Main Road?

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

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

The guideline value is an essential factor when registering property transactions in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale of a property.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a value that reflects the prevailing rates in the area, thus providing a fair basis for taxation and legal documentation.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar Main Road?

The current guideline value of M.G.R. Nagar Main Road 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 significantly 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.

What is the land classification for M.G.R. Nagar Main Road?

M.G.R. Nagar Main Road is classified as Residential Class V Type - I.

Where can I find the Sub Registrar Office for M.G.R. Nagar Main Road?

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

How is stamp duty calculated for properties in M.G.R. Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at a rate of 7%.