Guideline Value for M.G.R. Nagar 10th Street

M.G.R. Nagar 10th Street guideline value

The current guideline value of M.G.R. Nagar 10th Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of M.G.R. Nagar 10th Street has changed

The guideline value for M.G.R. Nagar 10th Street has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, reflecting a 100% increase. However, the value then dropped to Rs 804 per sq.ft in 2017, marking a decrease of 33%. The subsequent revision in 2023 saw the value rise again to Rs 1,200 per sq.ft, followed by the current value of Rs 1,300 per sq.ft in 2024, which is an 8% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value for M.G.R. Nagar 10th Street is below this median.

• M.G.R. Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 5th Street: Rs 1,300 per sq.ft (2024)
• M.G.R. Nagar 6th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that 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 details.

Which Sub Registrar Office covers M.G.R. Nagar 10th Street?

The M.G.R. Nagar 10th Street falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is essential for both parties to understand the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for M.G.R. Nagar 10th Street?

The current guideline value for M.G.R. Nagar 10th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, resulting in an overall increase of 117% over the years.

What is the stamp duty rate for properties in M.G.R. Nagar 10th Street?

The stamp duty rate for properties in M.G.R. Nagar 10th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the registration office for M.G.R. Nagar 10th Street?

The registration office covering M.G.R. Nagar 10th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, while M.G.R. Nagar 10th Street's value is below this median at Rs 1,300 per sq.ft.