Guideline Value for M.G.R. NAGAR

M.G.R. Nagar guideline value

The current guideline value of M.G.R. Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Ponneri village under the Ponneri SRO and is classified as Residential Class II Type - I.

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

The guideline value for M.G.R. Nagar has seen significant changes over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft, and in the 2024 revision, it increased to Rs 700 per sq.ft, marking a change of +133%.

Guideline values in Ponneri

Ponneri has a total of 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value for M.G.R. Nagar.

• Masque St: Rs 700 per sq.ft (2024)
• Maruthi Nagar: Rs 700 per sq.ft (2024)
• Mugambigai Extension: Rs 700 per sq.ft (2024)
• Mugambigai Nagar Layout: Rs 700 per sq.ft (2024)
• Nadar Rice Mill Road: Rs 700 per sq.ft (2024)
• Nakkeeran Street: Rs 700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers M.G.R. Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ponneri. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the property transfer process.

When a property is bought or sold, the guideline value helps ensure that the transaction is recorded at a fair value, thereby providing transparency and accountability in real estate dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during registration.

Frequently asked questions

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

The current guideline value of M.G.R. Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

From 2023 to 2024, the guideline value of M.G.R. Nagar increased from Rs 300 per sq.ft to Rs 700 per sq.ft, which is a change of +133%.

Which Sub Registrar Office should I visit for property registration in M.G.R. Nagar?

The Ponneri Sub Registrar Office covers M.G.R. Nagar. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

What is the land classification of M.G.R. Nagar?

M.G.R. Nagar is classified as Residential Class II Type - I, which is relevant for determining the guideline value and related regulations.