Guideline Value for M.G.R. Nagar (100 Feet Road)

M.G.R. Nagar (100 Feet Road) guideline value

The current guideline value for M.G.R. Nagar (100 Feet Road) is Rs 8,200 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Commercial Special Type - II.

How the guideline value of M.G.R. Nagar (100 Feet Road) has changed

The guideline value for M.G.R. Nagar has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 7,500 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value dropped to Rs 5,025 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 set the value at Rs 8,200 per sq.ft, representing a 63% increase from 2017.

Overall, from 2007 to 2024, the guideline value has increased by 447%. It is important to note that the register does not have figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing M.G.R. Nagar's 2024 figure above this median.

• M.G.R. Street (Bharathi Nagar): Rs 2,700 per sq.ft (2024)
• Meenakshi Nagar: Rs 5,500 per sq.ft (2024)
• M.M. Ramasamy Street: Rs 4,100 per sq.ft (2024)
• Model House: Rs 7,700 per sq.ft (2024)
• Mayil Sivan Muthu Street: Rs 3,300 per sq.ft (2024)
• Moogambikai Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar (100 Feet Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000, bringing the total cost for these fees to Rs 7,38,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers M.G.R. Nagar (100 Feet Road)?

The Sub Registrar Office that covers M.G.R. Nagar is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value can also influence the pricing strategy. Sellers should be aware of the current guideline value to set a competitive price that aligns with the official valuations in the area.

Frequently asked questions

What is the current guideline value for M.G.R. Nagar (100 Feet Road)?

The current guideline value for M.G.R. Nagar (100 Feet Road) is Rs 8,200 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 1,500 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 447% over the years.

What is the registration office for M.G.R. Nagar?

The registration office for M.G.R. Nagar is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated in M.G.R. Nagar?

Stamp duty in M.G.R. Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same value.

What are the guideline values for other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. M.G.R. Nagar's value is above the median of Rs 4,900 per sq.ft for the area.